Regulation 10 - Statement of affairs - Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019

10. Statement of affairs. (1) The resolution professional shall prepare a statement of affairs of the guarantor for the purposes of clause (b) of sub-section (3) of section 107. (2) The statement of affairs shall include the following information of the guarantor - (a) assets and liabilities for the preceding three financial years and the current financial year; (b) details of the excluded assets and excluded debts; (c) income statement for the preceding three financial years and the current financial year; (d) income-tax returns filed by the guarantor, if any, for the preceding three financial years; (e) creditor wise amount due, broken up into secured and unsecured debts for the preceding three financial years; (f) details of debt owed by guarantor to his associates for the preceding three financial years; (g) guarantees given in relation to any of his debts, and whether any of the guarantors is an associate of the guarantor; and (h) details of the financial statements for the business owned by the guarantor, or of the firm in which he is a partner, as the case may be, for the preceding three financial years, if applicable.