The Economic Times

Deadline for filing forms relating to personal guarantors to insolvent firms extended up to Sept 30

Insolvency professionals have received a three-month extension to file forms electronically. This extension applies to monitoring resolution processes for personal guarantors of corporate debtors. The Insolvency and Bankruptcy Board of India granted this relief after considering professional requests. Professionals cited technical and transitional difficulties with the new electronic platform. Penalties will now apply for filings submitted after September 30.