Top court to hear matter on insolvency of personal guarantors tomorrow

In the last hearing on Oct 29, SC had transferred to itself all petitions pending before various High Courts, challenging IBC provisions on the issue

The Supreme Court is likely to hear 19 petitions challenging the constitutional validity of provisions relating to insolvency of personal guarantors under the IBC on Thursday. 

In the last hearing on October 29, the top court had transferred to itself all the petitions pending before various High Courts, challenging the said IBC provisions. The SC had said that no further writ petitions on the issue were to be entertained by any High Court.

Among the personal guarantees which have been invoked by the banks are Anil Ambani, chairman of ADA group for Rs 1,200 crore. Other promoters facing invocation of