https://www.taxtmi.com/caselaws?id=407864 The Supreme Court upheld the validity of a notification issued by the Central Government under Section 1(3) of the Insolvency and Bankruptcy Code, 2016, extending provisions to personal guarantors of corporate debtors. The Court ruled that the notification was within the power granted by Parliament and valid, not impermissibly selective. It clarified that personal guarantors are distinct and can be dealt with separately from other individuals under the Code. The notification does not create enforcement issues, and the liability of guarantors remains even if the principal debtor is discharged through insolvency proceedings. en-us Fri, 21 May 2021 00:00:00 +0530 Wed, 23 Mar 2022 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407864 The Supreme Court upheld the validity of a notification issued by the Central Government under Section 1(3) of the Insolvency and Bankruptcy Code, 2016, extending provisions to personal guarantors of corporate debtors. The Court ruled that the notification was within the power granted by Parliament and valid, not impermissibly selective. It clarified that personal guarantors are distinct and can be dealt with separately from other individuals under the Code. The notification does not create enforcement issues, and the liability of guarantors remains even if the principal debtor is discharged through insolvency proceedings. Case-Laws Insolvency and Bankruptcy Fri, 21 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407864