Transfer of assets of guarantor taken into possession

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....orate debtor has, prior to or during the corporate insolvency resolution process, taken possession of any asset of a personal guarantor or corporate guarantor of the corporate debtor, the resolution professional may place the proposal for permitting transfer of such asset as part of its insolvency resolution, before the committee. (2) The proposal placed before the committee shall contain- ....

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....or liquidation process, as the case may be, permitting the transfer of the asset. (3) Where approval is granted by the committee of the corporate debtor permitting the transfer of such asset as part of its insolvency resolution, the resolution professional shall - (a) ensure that the proposed transfer is disclosed in the information memorandum; (b) specify the particulars of s....