February 5, 2021
Summary of the Circular issued by IBBI on 02/02/2021
Applicants can submit a copy of the application via online to the Board under Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019
Through this Circular, IBBI allows applicants initiating insolvency resolution process of a personal guarantor to a corporate debtor under the above mentioned Rule, 2019, to submit a copy of the application filed under sub-section (1) of section 94 or sub-section (1) of section 95 of the Insolvency and Bankruptcy Code, 2016 (Code) to the Board for its record via ONLINE.
The format and the step-by-step guide for submission of the application are provided in the Circular.
This Circular is available on our free to use website www.ca2013.com for your quick reference.