Personal Guarantors Cannot Escape Liability Under Insolvency Code 2016; Section 14 Inapplicable to Them.

CIBIL rating - Removal of name of the petitioner from the list of defaulters maintained by Credit Information Bureau (India) Limited - liability of a guarantor towards a creditor - Section 14 of the Code of 2016 does not apply to a personal guarantor. The Code of 2016 does not allow personal guarantors to escape their liability .....

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