insolvency process of personal guarantor

IBBI has issued a circular dated 2nd February, 2021 wherein they have made an online process for submitting application for initiation of insolvency resolution process of a personal guarantor to a corporate debtor. This application is filed under section 94(1) or 95(1) of the Insolvency and Bankruptcy Code 2016.

On making an application online, the applicant shall get an acknowledgement.

This is one more step of making all applications online by the government.

The application can be made online at this site i.e.

https://ibbi.gov.in/intimation-applications/iaaa-personal-one

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