The Insolvency and Bankruptcy Board of India on 31st January, 2024 has issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) (Amendment) Regulations, 2024.
The amendment provides that the resolution professional shall place the repayment plan in a meeting of the creditors for its consideration. Where no repayment plan has been received within such period the resolution professional shall notify the same in a meeting of creditors.
