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New Delhi: The Insolvency & Bankruptcy Board of India (IBBI) is preparing guidelines to enable creditors to recover dues from guarantors of companies if the company fails to pay its dues. According to a report in the Times of India, the insolvency regulator is expected to come out with guidelines in next few weeks that will help banks and individuals recover dues from guarantors where they have failed to have the entire claims settled during the resolution process.
The move will tighten the grip around the companies as well as their promoters, who had given personal guarantees, the daily said.
The ToI rep…
Read the full article at: https://www.timesnownews.com/business-economy/industry/article/bad-loan-resolution-now-guarantors-may-too-face-insolvency-action/295852
