Insolvency of Individual Corporate Guarantor: A Distant Dream to Reach

Authors

  • Divya Sharma Assistant Professor, Bharati College, University of Delhi, Delhi
  • Sainyam Sharma Research Analyst, CRISIL, Gurugram
  • Rajni Associate Professor, Bharati College, University of Delhi, Delhi

DOI:

https://doi.org/10.33516/maj.v57i2.93-97p

Keywords:

No Keywords.

Abstract

In order to execute the insolvency of individual corporate guarantors, the Ministry of Corporate Affairs notified and brought into force the laws of insolvency of personal guarantors of corporate debtors via notification dated November 15, 2019. This move has had huge repercussions on the status of individual corporate guarantors. On the one hand, it has brought a wave of joy to creditors and on the other hand, it has opened up an ocean of insecurity for promoters, directors and individuals etc., who fall into this category. The author’s objective in this study is to examine the procedural flaws in the Insolvency Code handling of procedures against individual corporate guarantors. In addition, he has come out with tentative recommendations in such a case.

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Published

2022-02-10

How to Cite

Sharma, D., Sharma, S., & Rajni. (2022). Insolvency of Individual Corporate Guarantor: A Distant Dream to Reach. The Management Accountant Journal, 57(2), 93–97. https://doi.org/10.33516/maj.v57i2.93-97p

Issue

Volume 57, Issue 2, February 2022

Section

IBC
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Europe PMC

References

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