SC asks runaway guarantors to pay. Will this change the corporate borrower-lender equation?
Concept by Kankana Roy Choudhury and Muhabit ul haq via AI
Synopsis
Lenders have celebrated the recent Supreme Court decision validating provisions in bankruptcy law, enabling them to recover from personal guarantees by corporate debtor promoters. The order is seen to correct an injustice that permits businessmen to transfer enterprise losses to banks while retaining profits.
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