HC seeks Centre's reply on BPSL ex-chairman plea against IBC proceedings

It refused to stay, at this stage, a notice issued by SBI to Singal seeking to invoke personal guarantee under the provisions.

The Delhi High Court has asked the Centre and the IBBI to respond to a plea by former chairman of Bhushan Power and Steel Ltd (BPSL) Sanjay Singal, challenging the provisions on personal insolvency proceedings against guarantors of corporate debtors.
 
A bench of Chief Justice D N Patel and Justice Prateek Jalan issued notices and asked the ministries of Law and Justice and Corporate Affairs, Insolvency and Bankruptcy Board of India (IBBI) and State Bank of India to file their replies on the petition.
 
The court listed the matter for further hearing on October 6. It refused to