Tag: Lalit Kumar Jain vs. Union of India & Ors
May 26, 2021
Corporate Law | General Corporate Advisory
Corporate Law | General Corporate Advisory
PERSONAL GUARANTORS ARE ACCOUNTABLE UNDER THE IBC: THE ...
On May 21, 2021, the Apex Court of India, in the case of Lalit Kumar Jain vs. Union of India & Ors. , upheld the validity of the Centre's notification dated November 15, 2019, allowing banks to proceed against personal guarantors for recovery of loans given to a company under the Insolvency and Bankruptcy Code, 2016 (IBC) (“Notification”). ......