Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2026. - F. No. IBBI/2026-27/GN/REG149. - Insolvency and Bankruptcy
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Asset disclosure in personal guarantor insolvency resolution is expanded, with creditor approval and transfer coordination requirements introduced. Amendments to the personal guarantor insolvency resolution regulations replace prescribed forms with circular-notified formats, omit existing forms, and expand disclosure and reporting requirements. A detailed statement of assets must accompany the application, covering direct and indirect holdings, joint assets, fiduciary holdings, beneficial ownership structures, and assets controlled or from which economic benefit is derived. The regulations also provide for coordination between resolution professionals and creditor approval in relation to transfer of assets, with disclosure obligations in the relevant reports.
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Asset disclosure in personal guarantor insolvency resolution is expanded, with creditor approval and transfer coordination requirements introduced.
Amendments to the personal guarantor insolvency resolution regulations replace prescribed forms with circular-notified formats, omit existing forms, and expand disclosure and reporting requirements. A detailed statement of assets must accompany the application, covering direct and indirect holdings, joint assets, fiduciary holdings, beneficial ownership structures, and assets controlled or from which economic benefit is derived. The regulations also provide for coordination between resolution professionals and creditor approval in relation to transfer of assets, with disclosure obligations in the relevant reports.
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