The Hon’ble Apex Court upheld the provisions of the Insolvency and Bankruptcy Code relating to insolvency of personal guarantors that were brought into force in 2019. Further the notification has been issued by MCA on 15.11.2019 which has notified the provision of IBC w.r.t. to personal guarantors. However, validity of the same has been challenged by IBBI on 20.11.2019 which is confined to impugned notification.
