https://www.taxtmi.com/caselaws?id=790815 The Insolvency and Bankruptcy Code, 2016 requires a personal guarantor to prepare a repayment plan in consultation with the resolution professional during the insolvency process. Where no repayment plan is submitted despite opportunity, the statutory scheme permits progression to bankruptcy proceedings. Objections that dues were wrongly computed or that earlier one-time settlement efforts had been made did not displace this consequence, particularly where liability had been admitted and the guarantors were co-extensively liable under the guarantee. The tribunal therefore treated non-submission of a repayment plan as sufficient basis for initiation of bankruptcy under the Code. en-us Wed, 15 Apr 2026 00:00:00 +0530 Fri, 01 May 2026 10:14:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790815 The Insolvency and Bankruptcy Code, 2016 requires a personal guarantor to prepare a repayment plan in consultation with the resolution professional during the insolvency process. Where no repayment plan is submitted despite opportunity, the statutory scheme permits progression to bankruptcy proceedings. Objections that dues were wrongly computed or that earlier one-time settlement efforts had been made did not displace this consequence, particularly where liability had been admitted and the guarantors were co-extensively liable under the guarantee. The tribunal therefore treated non-submission of a repayment plan as sufficient basis for initiation of bankruptcy under the Code. Case-Laws IBC Wed, 15 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790815