IBHF had moved the Tribunal under Section 95 of the Insolvency and Bankruptcy Code (IBC) over outstanding loan amounts to be furnished by Chandra as he was personal guarantor in an agreement executed between IBHF and Vivek Infracon.
A personal guarantor gives written assurance of repayment of loans or credit facility on behalf of creditor company.
In the event the creditor company does not repay the debt, the personal assets of the guarantor can be attached by the debtor.
IBHF had moved the Tribunal under Section 95 of the Insolvency and Bankruptcy Code (IBC) over outstanding loan amounts to be furnished by Chandra as he was personal guarantor in an agreement executed between IBHF and Vivek Infracon.
A personal guarantor gives written assurance of repayment of loans or credit facility on behalf of creditor company. In the event the creditor company does not repay the debt, the personal assets of the guarantor can be attached by the debtor.
