https://www.taxtmi.com/acts?id=53991 Insertion of section 28A permits transfer of an asset of a personal guarantor or corporate guarantor, after enforcement of security interest, during the corporate insolvency resolution process of the corporate debtor with prior approval of the committee of creditors and specified conditions. Separate approval thresholds apply where the corporate guarantor or personal guarantor is undergoing its own insolvency resolution, liquidation, or bankruptcy process, and the transfer proceeds form part of the relevant process. The transferee acquires all rights in the asset under a resolution plan, and the realised amount is adjusted against the guarantor's debt after costs, with any surplus paid to the guarantor. en-us Tue, 07 Apr 2026 13:02:31 +0530 Tue, 07 Apr 2026 13:02:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53991 Insertion of section 28A permits transfer of an asset of a personal guarantor or corporate guarantor, after enforcement of security interest, during the corporate insolvency resolution process of the corporate debtor with prior approval of the committee of creditors and specified conditions. Separate approval thresholds apply where the corporate guarantor or personal guarantor is undergoing its own insolvency resolution, liquidation, or bankruptcy process, and the transfer proceeds form part of the relevant process. The transferee acquires all rights in the asset under a resolution plan, and the realised amount is adjusted against the guarantor's debt after costs, with any surplus paid to the guarantor. Act-Rules F. Acts / Amendment Acts Tue, 07 Apr 2026 13:02:31 +0530 https://www.taxtmi.com/acts?id=53991