https://www.taxtmi.com/acts?id=54549 Transfer of assets of a personal guarantor or corporate guarantor taken into possession by a creditor may be placed before the committee for permission as part of the insolvency resolution. The proposal must describe the asset, state its estimated realisable value, and include the creditor's consent or proof of approval permitting transfer. If approved, the resolution professional must disclose the transfer in the information memorandum, specify it in the request for resolution plans, and ensure the plan provides for treatment of the proceeds. The committee must consider the asset's value and the treatment of proceeds to safeguard stakeholders. en-us Thu, 04 Jun 2026 14:15:45 +0530 Fri, 05 Jun 2026 15:15:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=54549 Transfer of assets of a personal guarantor or corporate guarantor taken into possession by a creditor may be placed before the committee for permission as part of the insolvency resolution. The proposal must describe the asset, state its estimated realisable value, and include the creditor's consent or proof of approval permitting transfer. If approved, the resolution professional must disclose the transfer in the information memorandum, specify it in the request for resolution plans, and ensure the plan provides for treatment of the proceeds. The committee must consider the asset's value and the treatment of proceeds to safeguard stakeholders. Act-Rules IBC Thu, 04 Jun 2026 14:15:45 +0530 https://www.taxtmi.com/acts?id=54549