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Supreme Court Validates IBC Provisions for Personal Guarantors, Rejects Interpretation of Adjudicatory Role in Section 97

In a landmark ruling, the Supreme Court, on Thursday, November 9, affirmed the constitutionality of the Insolvency and Bankruptcy Code (IBC) provisions pertaining to the Insolvency Resolution of Personal Guarantors, which were introduced through amendments in 2019. The Court’s judgment maintains that these provisions (Section