MUMBAI: The wait for framing final regulations to punish high profile individuals, including promoters, who have given personal guarantees for corporate loan defaulters may soon be over as the regulator is set to make a call on the matter next week. The governing body of Insolvency and Bankruptcy Board of India (IBBI) is expected to finalise broad contours for dealing with personal guarantors of defaulting entities seen as an additional tool to punish truant promoters at a meeting on Dec 19.
A working committee of insolvency professionals had submitted its recommendations on proposed regulations to IBBI more than a month ago.
“The draft regulations, along with public comments and recommendations of the advisory committee, …
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