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After Subhash Chandra case, bankruptcy board’s push for tighter safeguards

The Insolvency and Bankruptcy Board of India has introduced four amendments to tighten safeguards in personal guarantor insolvency cases following the Subhash Chandra controversy, aligning them with corporate insolvency norms. The proposals limit voting rights of related parties, require independent asset valuation and detailed creditor deliberations, and mandate scrutiny of avoidance transactions.