When a corporate debtor enters insolvency, what happens to the individuals standing behind the loans? In Episode 15 of our Insolvency and Bankruptcy Code (IBC) series, we look beyond corporate resolution to examine the legal liabilities of personal guarantors, individual debtors, and partnership firms.We break down how personal guarantees survive corporate resolution plans, examine Section 31(6) and Section 60(2) of the IBC, explore the latest 2026 moratorium exclusions under Sections 96(4) & 124(4), and uncover why Part III of the IBC remains only partially notified.Key Legal Provisions & Precedents Discussed:Section 5(22), Section 31(6), Section 60(2) of the IBC2026 Amendments: Section 96(4) & Section 124(4) (Moratorium Exclusions)Part III of IBC & Fresh Start Process statusSection 25, Indian Partnership Act, 1932Supreme Court in SBI vs. V. Ramakrishnan (2018) & Section 243 repeal statusFind Episode 3 here • Can Anyone Sue a Company Under Insolvency?... Read the Provisions from here, the bare act itself : https://ibbi.gov.in/uploads/legalfram...00:00 – The Promoter's Dilemma: Personal Guarantees vs Corporate Insolvency00:58 – Two Separate Legal Obligations01:43 – Section 31(6): Does Resolution Release the Guarantor?02:24 – Section 60(2): Where Do Creditors File Against Guarantors?03:12 – 2026 Amendments: Moratorium Exclusions (Sec 96(4) & 124(4))04:18 – Individual Borrowers & The Truth About Part III05:43 – Can Partnership Firms Use IBC? (Sec 25 Partnership Act)07:08 – Older Insolvency Laws & SBI vs. V. Ramakrishnan08:42 – The Next Stakeholders: What Happens to Unpaid Employees?09:32 – Summary & Sections to Read Beyond the Bare ActInsolvency and Bankruptcy Code #CorporateLawIndia #IBCSeries#IBC2016, #PersonalGuarantors, #PartnershipFirm, #IndividualInsolvency#NCLT, #CorporateLaw #LegalAwareness #LawInIndia #BusinessLaw#SatyaArthLegal

What happens when an Indian company enters insolvency under the IBC, but its most valuable assets are located in Dubai, Singapore, or London?

Can the Resolution Professional or NCLT reach across international borders to seize them, or does foreign law block the recovery?

In Part 14 of our IBC Series, we examine cross-border insolvency, the UNCITRAL Model Law framework, and where India's legal regime stands under the Insolvency and Bankruptcy Code, 2016.

00:00 - Introduction: The Dubai Warehouse Dilemma

01:10 - Ownership vs. Legal Authority Over Foreign Assets

01:47 - Current Framework: IBC Sections 234 & 235

02:37 - Why Bilateral Agreements Aren't Enough

04:02 - The UNCITRAL Model Law on Cross-Border Insolvency (1997)

05:06 - The 4 Core Pillars: Access, Recognition, Relief & Cooperation

06:09 - Where Does India Stand on Cross-Border Insolvency?

07:20 - The 2026 IBC Amendment & Section 240C Explained

08:05 - The Core Dilemma: Can IBC Reach Across Borders?

08:52 - Preview: Personal Guarantors & Beyond Corporate Entities

09:34 - Summary & Sections to Read

⚖️ Previous Episodes in the IBC Series:

• Part 13: How to Close a Company Without Bankruptcy? https://youtu.be/ssBjK_EnlWI

• Part 12: Why Fast-Track Insolvency Failed in Practice https://youtu.be/zrAuKNcWVeU

• Part 11: What If Debt Is Killing a Good Business? PPIRP https://youtu.be/BETaYPiIjls

📖 Relevant Provisions & References:

• IBC Sections 234 & 235 (Agreements with Foreign Countries & Letter of Request)

• UNCITRAL Model Law on Cross-Border Insolvency

If this breakdown helped demystify corporate insolvency law, please like, share, and subscribe to SatyaArth Legal for more deep dives.

#IBC #InsolvencyAndBankruptcyCode #CrossBorderInsolvency #NCLT #SatyaArthLegal #CorporateLaw #IndianLaw

Read the provisions from here, the bare act itself: https://ibbi.gov.in/uploads/legalframwork/2026-04-07-115842-i5nsk-7ed69ef2a4d23a8b0d472cc0fcd55e79.pdfThis is the story behind the law, the law itself—and what the law is not.

📌 SatyaArth Legal — The Story Behind the Law

Can a company simply shut down without going bankrupt?When a company wants to close its doors, the law does not offer just one exit. In this episode of **The IBC Files**, we explore three distinct legal routes:Liquidation. Voluntary Liquidation. Striking Off.Same destination. Different questions. Different legal doors#SatyaArthLegal #IBC #InsolvencyAndBankruptcyCode #CorporateInsolvency #Liquidation #VoluntaryLiquidation #StrikingOff #CorporateLaw #InsolvencyLaw #IBC2026 #CompaniesAct2013 #LegalAwareness #IndianLaw #TheIBCFilesRead the Provisions from here, the bare act itself : https://ibbi.gov.in/uploads/legalframwork/2026-04-07-115842-i5nsk-7ed69ef2a4d23a8b0d472cc0fcd55e79.pdf

Episode 9 : The NCLT has approved ABC Steel’s Resolution Plan. But is that really the end?Raj wants to challenge the decision. A dissenting financial creditor does too. But where can they go—and what exactly can be challenged?In this episode of the IBC Series, we open the next judicial door: NCLAT, and understand how appeals work under the Insolvency & Bankruptcy Code.We explore who can appeal, on what grounds, and why the appellate remedy is not simply a second chance to disagree with the decision.Sections discussed:• Section 60 — NCLT as Adjudicating Authority• Section 61 — Appeals to NCLAT• Section 31 — Approval of Resolution Plan• Related provisions concerning dissenting financial creditorsEpisode 1 : https://youtu.be/BQBGl4zj3nsEpisode 5 : https://youtu.be/PUcljaMj2tU📖 Read the law yourself: Official IBC Gazette linkhttps://ibbi.gov.in/uploads/legalframwork/2026-04-07-115842-i5nsk-7ed69ef2a4d23a8b0d472cc0fcd55e79.pdf#IBC #InsolvencyAndBankruptcyCode #NCLT #NCLAT #CorporateInsolvency #InsolvencyLaw #ResolutionPlan #IBC2016 #SatyaArthLegal

What if insolvency could move faster?In this episode, we step into the story of Fast Track CIRP— the IBC's attempt to create a shorter route for specified corporate debtors.Through the story of Arya Components, we explore who could use Fast Track, how the 90 + 45-day clock worked, and why "Fast” did not mean fewer rules — it meant less time to use them.But the story doesn't end there.In 2026, Sections 55–58 were omitted and a new Creditor-Initiated Insolvency Resolution Process (CIIRP) is introduced.So, what changed? Go find out#SatyaArthLegal #IBC #InsolvencyAndBankruptcyCode #FastTrackCIRP #CIIRP #InsolvencyLaw #CorporateLaw #LegalStorytellingRead the Provisions from here, the bare act itself : https://ibbi.gov.in/uploads/legalfram...

What if a business is still viable — but its debt is suffocating it?In this episode of the SatyaArth Legal IBC Series, we explore PPIRP under Chapter III-A of the Insolvency and Bankruptcy Code, 2016, using the story of Meera Engineering.We look at:Eligibility & commencement — Sec 54ADebtor-in-possession & RP — Secs 54H–54JBase Resolution Plan & CoC — Sec 54K51% commencement threshold vs 66% plan approvalThe 120-day framework#IBC #PPIRP #Insolvency #InsolvencyCode #MSME #SatyaArthLegalRead the provisions from here, the bare act itself: https://ibbi.gov.in/uploads/legalfram...
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The IBC has been evolving for a decade. But 2026 brings another important reset.

In this episode of the IBC Series, we look at the Insolvency and Bankruptcy Code (Amendment) Act, 2026 — what changed, why it changed, and what these amendments could mean for the insolvency process. We explore the key amendments relating to CIRP, claims, Information Utilities, pre-packaged insolvency, voluntary liquidation, liquidation, personal guarantors, and the new creditor-initiated insolvency framework.The IBC is ten years old. The game is changing again.SatyaArth Legal — Story • Law • Purpose

Episode 8 — What If Raj Moved ABC Steel's Assets Before Insolvency?What happens when the value of a company starts disappearing before insolvency begins?In this episode, we go back in time with Raj and ABC Steel and investigate the transactions that may have affected the company's creditors—from preferential payments and undervalued asset transfers to burdensome credit arrangements and fraudulent or wrongful conduct.More importantly, we ask a bigger question:Was ABC Steel simply in financial distress—or was value being moved away from its creditors?We explore:Section 43 — Preferential TransactionsSection 45 — Undervalued TransactionsSection 49 — Transactions Defrauding CreditorsSection 50 — Extortionate Credit TransactionsSection 66 — Fraudulent and Wrongful TradingSection 29A — Eligibility of a Resolution Applicant