https://www.taxtmi.com/acts?id=54047 Transfer of assets of a personal guarantor or corporate guarantor of a corporate debtor may be permitted during the corporate insolvency resolution process where a creditor has already taken possession by enforcing a security interest under an applicable law empowering transfer. The transfer requires prior approval of the committee of creditors and, in specified cases, approval thresholds of sixty-six per cent of voting share or more than three-fourths in value of creditors. Transfer proceeds form part of the relevant insolvency resolution, bankruptcy process, or liquidation estate. en-us Tue, 07 Apr 2026 17:30:28 +0530 Tue, 26 May 2026 11:37:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=54047 Transfer of assets of a personal guarantor or corporate guarantor of a corporate debtor may be permitted during the corporate insolvency resolution process where a creditor has already taken possession by enforcing a security interest under an applicable law empowering transfer. The transfer requires prior approval of the committee of creditors and, in specified cases, approval thresholds of sixty-six per cent of voting share or more than three-fourths in value of creditors. Transfer proceeds form part of the relevant insolvency resolution, bankruptcy process, or liquidation estate. Act-Rules IBC Tue, 07 Apr 2026 17:30:28 +0530 https://www.taxtmi.com/acts?id=54047