New Delhi, Sept. 29 -- The Insolvency and Bankruptcy Board of India (IBBI) on 24 September gave insolvency professionals (IPs) another three months, until December, to file electronic forms detailing cases involving individuals who had provided guarantees for debt owed by now-defaulted companies. This is the second extension of the deadline, with the first extension set to expire on Wednesday.

Mint explains what the bankruptcy regulator's decision on capturing real-time data on cases involving personal guarantors to corporate debtors means for the broader insolvency ecosystem in India.

Section 95 of the Insolvency and Bankruptcy Code, 2016 (IBC) allows a creditor to approach the National Company Law Tribunal (NCLT) to launch insolvency ...