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LATEST NEWS UPDATES | Insolvent individuals may face ban on holding, running for public office -Aashish Aryan </title>
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-The Indian Express
The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.
The Insolvency and Bankruptcy Board of..."/>
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-The Indian Express
The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.
The Insolvency and Bankruptcy Board of..." />
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<h1 class="cat-box-title">Insolvent individuals may face ban on holding, running for public office -Aashish Aryan</h1>
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Published on</span><span class="text-date"> Dec 24, 2019</span>
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<div align="justify">-The Indian Express<br /><br /><em>The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.<br /></em><br />The Insolvency and Bankruptcy Board of India (IBBI), as well as the Ministry of Corporate Affairs (MCA), is in favour of disallowing individuals who have been declared insolvent, from holding any public office or being the personal guarantor to any company, government sources close to the development said.<br /><br />“We have discussed that they (individuals declared insolvent) should not be allowed to hold or run for any public office. The repayment plan and schedules also have to be thought of. Because unlike corporate insolvency, here no one is taking over,” a top executive from the IBBI said.<br /><br />The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.<br /><br />Please <a href="https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/" title="https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/">click here</a> to read more. <br /></div>
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<br><a href="https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/" class="re" target="_blank">The Indian Express, 24 December, 2019, https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/</a><div class="clear"></div>
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LATEST NEWS UPDATES | Insolvent individuals may face ban on holding, running for public office -Aashish Aryan </title>
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-The Indian Express
The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.
The Insolvency and Bankruptcy Board of..."/>
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The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.
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<h1 class="cat-box-title">Insolvent individuals may face ban on holding, running for public office -Aashish Aryan</h1>
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<div align="justify">-The Indian Express<br /><br /><em>The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.<br /></em><br />The Insolvency and Bankruptcy Board of India (IBBI), as well as the Ministry of Corporate Affairs (MCA), is in favour of disallowing individuals who have been declared insolvent, from holding any public office or being the personal guarantor to any company, government sources close to the development said.<br /><br />“We have discussed that they (individuals declared insolvent) should not be allowed to hold or run for any public office. The repayment plan and schedules also have to be thought of. Because unlike corporate insolvency, here no one is taking over,” a top executive from the IBBI said.<br /><br />The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.<br /><br />Please <a href="https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/" title="https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/">click here</a> to read more. <br /></div>
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<br><a href="https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/" class="re" target="_blank">The Indian Express, 24 December, 2019, https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/</a><div class="clear"></div>
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LATEST NEWS UPDATES | Insolvent individuals may face ban on holding, running for public office -Aashish Aryan </title>
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The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.
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<h1 class="cat-box-title">Insolvent individuals may face ban on holding, running for public office -Aashish Aryan</h1>
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<div align="justify">-The Indian Express<br /><br /><em>The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.<br /></em><br />The Insolvency and Bankruptcy Board of India (IBBI), as well as the Ministry of Corporate Affairs (MCA), is in favour of disallowing individuals who have been declared insolvent, from holding any public office or being the personal guarantor to any company, government sources close to the development said.<br /><br />“We have discussed that they (individuals declared insolvent) should not be allowed to hold or run for any public office. The repayment plan and schedules also have to be thought of. Because unlike corporate insolvency, here no one is taking over,” a top executive from the IBBI said.<br /><br />The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.<br /><br />Please <a href="https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/" title="https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/">click here</a> to read more. <br /></div>
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<br><a href="https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/" class="re" target="_blank">The Indian Express, 24 December, 2019, https://indianexpress.com/article/business/insolvent-individuals-may-face-ban-on-holding-running-for-public-office-6181982/</a><div class="clear"></div>
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LATEST NEWS UPDATES | Insolvent individuals may face ban on holding, running for public office -Aashish Aryan
Insolvent individuals may face ban on holding, running for public office -Aashish Aryan
Published on Dec 24, 2019
Modified on Dec 24, 2019
-The Indian Express
The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.
The Insolvency and Bankruptcy Board of India (IBBI), as well as the Ministry of Corporate Affairs (MCA), is in favour of disallowing individuals who have been declared insolvent, from holding any public office or being the personal guarantor to any company, government sources close to the development said.
“We have discussed that they (individuals declared insolvent) should not be allowed to hold or run for any public office. The repayment plan and schedules also have to be thought of. Because unlike corporate insolvency, here no one is taking over,” a top executive from the IBBI said.
The Central government had on December 1 notified amendments to the Insolvency and Bankruptcy Code (IBC), 2016, in which it had brought a corporate debtor’s personal guarantor under the purview of the Code.
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