Chinmoy Sharma Mr., Sr. Adv. Topic: IBC - Insolvency and Bankruptcy Code.

Friday Group:
Topic: - IBC - Insolvency and Bankruptcy Code.
Speaker: Chinmoy Sharma, Mr., Sr. Advocate, Supreme Court of India.
Organizer: G.Seshagiri Rao, Advocate Supreme Court of India.
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[@Pokethuder]

Chinmay Sir very erudite & clear in his explanation of this complicate IBC code.

[@Pokethuder]

One question is in IBC code either in liquidation or in Resolution scenario, financial institutions especially the PSU banks always have to take a haircut & ultimately the taxpayers money is lost.

[@jituburman1527]

It seems, personal guarantors aspect either would never be there in future taking them seriously while even backing loan for company who has limited credit burden as restricted by shares and/ available assets only . To allow personal guarantors for attacking, would also bring proprietorship/partnership into this scheme as they also primarily personally liable to the extent of declaring them insolvent for clearing the dues of their enterprises.

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