Personal guarantor bankruptcy process updated with new transfer-of-assets coordination, creditor approval, and disclosure requirements. Amendment regulations under the Insolvency and Bankruptcy framework revise the bankruptcy process for personal guarantors to corporate debtors by replacing prescribed forms with forms notified by circular, updating the relevant cross-reference to section 164A, and inserting a new mechanism for facilitation of transfer of assets. The bankruptcy trustee must coordinate with the resolution professional, obtain committee of creditors approval for the transfer, and ensure appropriate disclosure where approval is granted.