{"id":386264,"date":"2026-06-05T13:30:01","date_gmt":"2026-06-05T08:00:01","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=386264"},"modified":"2026-06-05T13:05:29","modified_gmt":"2026-06-05T07:35:29","slug":"ibbi-2026-amendment-personal-guarantor-bankruptcy-rules","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2026\/06\/05\/ibbi-2026-amendment-personal-guarantor-bankruptcy-rules\/","title":{"rendered":"IBBI (Bankruptcy Process for Personal Guarantors to Corporate Debtors) (Second Amendment) Regulations, 2026: Key Changes Explained"},"content":{"rendered":"
\n

On 1 June 2026, the Insolvency and Bankruptcy Board of India<\/span> notified the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) (Second Amendment) Regulations, 2026<\/span> to amend Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019<\/span><\/a>.<\/p>\n

All you need to know:<\/h3>\n
    \n
  1. \n

    If a personal guarantor is under bankruptcy, their bankruptcy trustee will have to work together with the resolution professional of the related company (corporate debtor). This is specifically about handling the transfer of assets during the company’s insolvency process.<\/p>\n<\/li>\n

  2. \n

    Before any asset transfer is done, the bankruptcy trustee will have to get approval from the Committee of Creditors<\/span> of the personal guarantor.<\/p>\n<\/li>\n

  3. \n

    Once the Committee of Creditors approves the transfer, the bankruptcy trustee will have to make sure the transfer is properly disclosed.<\/p>\n<\/li>\n

  4. \n

    The following Forms A and B have been removed.<\/p>\n<\/li>\n<\/ol>\n

    Read more:<\/h3>\n

    IBBI Amendment Regulations 2026: Key Changes in Governing Board of Insolvency Professional Agency, Nominee Director & Independent Director<\/a><\/p>\n

    IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2026: Key Changes to Appointment of Professionals<\/a><\/p>\n

    IBBI Pre-Pack Regulations Second Amendment 2026: Key Changes in Valuer Appointment, Fair & Liquidation Value Calculation<\/a><\/p>\n

    [IBBI (Bankruptcy Process for Personal Guarantors to Corporate Debtors) (Second Amendment) Regulations, 2026: Key Changes Explained, dt. 1 June 2026]<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

    The Amendment introduces a structured framework for coordinating asset transfers when a personal guarantor is under bankruptcy.<\/p>\n","protected":false},"author":67515,"featured_media":386267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,15],"tags":[106298,106296,106301,106299,106297,106303,104857,106300,106302,106295],"class_list":["post-386264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations","tag-asset-transfer-rules","tag-bankruptcy-trustee","tag-cirp-coordination","tag-committee-of-creditors-approval","tag-corporate-debtor-insolvency","tag-forms-a-and-b-removal","tag-ibbi-amendment-2026","tag-insolvency-regulations-india","tag-legal-compliance-disclosure","tag-personal-guarantor-bankruptcy"],"yoast_head":"\nIBBI (Bankruptcy Process for Personal Guarantors to Corporate Debtors) (Second Amendment) 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