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Informative

IBBI Introduces Regulation on Non-Submission of Repayment Plan by Personal Guarantors

Update / Judgement Date

22 May 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Corporate ComplianceInsolvency & Bankruptcy Code

IBBI Introduces Regulation on Non-Submission of Repayment Plan by Personal Guarantors The Insolvency and Bankruptcy Board of India (IBBI) has introduced a new regulation addressing the non-submission of repayment plans by personal guarantors to corporate debtors. This new rule aims to enhance accountability and expedite the resolution process for personal guarantors who have defaulted on their obligations. It will likely impose consequences or specific procedures for instances where a personal guarantor fails to submit a viable repayment plan, strengthening the framework for individual insolvency.