Orange alert as rain leaves Gurugram waterlogged; disrupts traffic The Sector 52A market was among the most affected areas, with visuals showing commuters wading through knee-deep water Published on: Aug 24, 2026, 14:14:38 IST By Sampurna Panigrahi, Mihika Shah
‘Buy buy buy!’: Foreign tourist reacts to duty-free shopping after Delhi immigration A foreign tourist has posted a video of his Delhi airport experience, questioning the shopping pitches he encountered just after immigration. Published on: Aug 24, 2026
India security chief visits China for border talks India security chief visits China for border talks Published on: Aug 24, 2026, 14:06:38 IST AFP Prefer HTon Google Share via Copy link India's top security official arrived in Beijing on Monday for talks on the countries' disputed Himalayan border
Twenty-one former international cricket captains, including India’s Sunil Gavaskar, Kapil Dev and Dilip Vengsarkar, on Sunday urged Pakistan to ensure that former Prime Minister Imran Khan is examined by a medical board, as directed by the country’s Supreme Court, The Hindu reported
A 25-year-old entrepreneur with a net worth of around ₹4.35 crore has turned to Reddit for advice after a sharp decline in the business that helped him build his fortune. Despite his wealth, he says he is now unsure about what to do next and feels “completely lost
Not a chief guests, celebrity or VIP, but a humanoid robot stole the spotlight at a sandwich shop inauguration. A video from the celebratory event has gone viral, where the robot was seen arriving at the venue with bodyguards. It then proceeded to greet guests and even broke into a dance
‘Jo bhi hai, tera ghar hai’: American compares Indian and US hospitality An American Hindi speaker’s take on Indian hospitality has viewers discussing the differences between socialising in India and the US. Published on: Aug 24, 2026, 13:31:09 IST By Vaishali Kapila Prefer HTon Google Share
Manipur: 1 CRPF personnel injured, 2 houses burnt by unknown armed individuals The gunfight broke out after two houses belonging to separate communities were set ablaze by an unidentified group of people Published on: Aug 24, 2026, 13:49:38 IST By Thomas Ngangom
Draft rules require promoters to disclose crypto, foreign assets in bankruptcy
IBBI draft rules require promoters to disclose crypto, foreign assets and more in bankruptcy
The Insolvency and Bankruptcy Board of India (IBBI) has issued draft regulations requiring company promoters who have guaranteed corporate loans to disclose their personal wealth during bankruptcy proceedings.
Under the proposal, whether these promoters file for bankruptcy voluntarily or are forced into it by their banks, they must now report their ownership of crypto assets, retirement funds, any assets held abroad, as well as all beneficial ownership of assets not in their name.
The proposal comes from an expert panel of IBBI officials tasked with drafting new regulations under the Insolvency and Bankruptcy Code (IBC), as amended in the recently concluded Parliament session. The amendment bill is awaiting Presidential ascent.
The five-member committee, led by IBBI wholetime member Jayanti Prasad, issued the draft regulations, based on the version of the bill tabled in Parliament last August and the subsequent recommendations of a Lok Sabha select committee that reviewed it, the IBBI report said. Changes necessitated by the final form of the statute will be incorporated when the regulations are notified.
The detailed list of disclosures to be made about personal guarantors’ assets leads to better understanding of the bankruptcy estate, help in getting the right valuation and help to lower the haircut taken by creditors in the resolution plan, explained Anoop Rawat, national practice head, insolvency & restructuring, at Shardul Amarchand Mangaldas & Co.
Data from IBBI showed that since personal guarantors were brought under IBC in December 2019, 4,386 applications have been filed up to end of December 2025. Out of these, 662 were filed by the guarantors involving a debt of close to ₹31,000 crore and 3,724 by the creditors involving a debt of ₹2.86 trillion.
The new rule
The disclosures are mandated by a new regulation 6A to be inserted in the IBBI (insolvency resolution process for personal guarantors to corporate debtors) regulations 2019.Under these, a true and complete statement of assets of the personal guarantor must be included along with the application filed for personal insolvency resolution, either by the personal guarantor himself or the creditors.
“The list would comprise almost all the assets which a person may hold and importantly, it also requires disclosure of asset over which the individual exercises control, influence, or derives economic benefit, irrespective of legal title,” explained Surendra Raj Gang, partner, deals – debt & special situations, Grant Thornton Bharat.
“Most of the time, personal guarantors would not hold the assets in their own name and would have transferred to relatives or friends but may retain indirect control and hence this proposed amendment is very important and would enable the Adjudicating Authority to take appropriate decision basis all relevant disclosures about assets of the personal guarantor in the personal insolvency application,” said Gang.
Seeking better outcomes
IBBI is actively encouraging lenders to recover funds from promoters and reverse suspicious transactions made during a company’s financial decline. By targeting these questionable deals occurring just before bankruptcy, the regulator aims to claw back diverted value and secure better outcomes for creditors during the debt resolution process.The move is significant as sharp haircuts suffered by banks and other creditors during debt resolution has been a vulnerable point of IBC, drawing criticism.
Bankruptcy reforms, including the latest round of amendments, have focused on improving efficiency and to prevent any abuse of the IBC process by promoters who try to hide assets away and get out of payment liabilities.
The committee’s 684-page report seeks to revamp the regulatory framework as well as various forms to be used by stakeholders during debt resolution.
Source: LiveMint
Related Posts: ibbi draft rules, ibc amendment 2026, personal guarantor disclosure, promoter asset disclosure, crypto asset reporting, foreign asset disclosure, insolvency bankruptcy board
No need to panic over H1N1 surge in K'taka: Minister Khader No need to panic over H1N1 surge in K'taka: Minister Khader Published on: Aug 24, 2026, 13:51:09 IST PTI Prefer HTon Google Share via Copy link Bengaluru, Karnataka Health Minister U T Khader on Monday assured the public that there was no
8 hours ago
‘You endorse misogyny, cut the crap’: Shehzad Poonawalla joins BJP attack on Rahul Gandhi's ‘smash patriarchy’ call Shehzad Poonawalla and BJP were responding to Rahul Gandhi's call to "smash the patriarchy" during his party's 'Chhatro ki Goonj' programme in Pune. Updated on: Aug 24, 2026
11 hours ago
For Delhi-NCR residents, Guleria struck a reassuring note while explaining why this year’s wave has felt worse, but citizens need not panic The H1N1 virus driving Delhi-NCR’s current flu surge appears to be changing its structure — a process that is making it spread faster and slip past the
11 hours ago
A job applicant’s unusual rejection from a software engineering internship has left the internet divided after the candidate was reportedly turned down over the name of their resume file. The incident was highlighted in a now-viral post on X by user @adnaannasir_
11 hours ago
Elderly woman killed, husband injured in SUV hit-and-run at Delhi's posh GK-1 The woman, identified as Shashi, was declared brought dead at the hospital, while her husband Kulbhushan (65), was left injured. Published on: Aug 24, 2026, 11:00:26 IST By HT News Desk Prefer HTon Google Share via Copy
11 hours ago
Woman reflects on high-rise living in big cities: ‘Even the slice of the sky is fixed for us’ A woman shared her thoughts on high-rise life, saying big-city living can feel confined despite better work opportunities. Published on: Aug 24, 2026
11 hours ago
Governor Abdullah Sarhadi gives money to treat a boy's broken arm and hands out funds for a local mosque - then, in his office in northern Afghanistan, an astonishing exchange unfolds. A young woman tells the grey-bearded former Taliban commander that she wants to divorce her husband
11 hours ago
Andy Burnham is marking his first foreign visit as prime minister with a trip to Kyiv - and will hand over blueprints so Ukraine can build its own long-range missiles. The prime minister will chair his first meeting of the "coalition of the willing"
11 hours ago
Apple’s next iPhone launch is getting closer, and the company’s usual September schedule is beginning to take shape. According to a recent Forbes report, Apple could hold its special event on Wednesday, September 9, where it is expected to introduce the iPhone 18 Pro and iPhone 18 Pro Max
11 hours ago
Fugitive gangster Goldy Brar has, in an audio clip, purportedly claimed responsibility for the killing of Khalistani separatist leader Hardeep Singh Nijjar in Canada, The Indian Express reported. The newspaper said it could not independently verify the authenticity of the audio clip
11 hours ago
Dad crashes daughter’s late-night work meeting over parcels: ‘Ek paise ki saving nahi karti’ A father’s surprise appearance during his daughter’s work call turns into a lecture on spending and saving. Updated on: Aug 24, 2026, 10:56:44 IST By Vaishali Kapila Prefer HTon Google Share via
11 hours ago
A Zimbabwean content creator’s tongue-in-cheek take on life in India has caught the attention of social media users after he shared 10 everyday conveniences that have completely changed his standard of living. From paying for almost everything with just a phone to having food
11 hours ago
Starting September 1, passengers traveling internationally will be required to use an e-boarding pass on their smartphones for immigration clearance, as announced by immigration authorities. This significant change comes as the Bureau of Immigration (BOI)
14 hours ago
The September 2026 US Visa Bulletin brings a mixed picture for Indian green card applicants. While some family-sponsored categories have moved forward, several employment-based categories remain severely constrained, with two India-specific categories listed as unavailable and the State Department
14 hours ago
The Maharashtra Transport Department has issued notices to 777 drivers for lacking practical knowledge of Marathi, The Hindu quoted unidentified officials as saying on Saturday. A total of 5,211 drivers were tested during a statewide inspection campaign that began on August 20, including 3
14 hours ago
19-year-old killed, friend injured after truck hits motorcycle on Delhi's Indraprastha flyover A police team reached the spot and found a motorcycle lying in a damaged condition and two people seriously injured. One of them died in the hospital. Updated on: Aug 24, 2026
14 hours ago
Indian woman reveals why her family returned to India after 13 years in US: ‘You don’t really belong here’ A woman shared five reasons her family decided to leave the US and return to India after 13 years. Published on: Aug 24, 2026, 07:43:56 IST By Mahipal Singh Chouhan Prefer HTon Google
14 hours ago
New UK PM Andy Burnham to make visit to Kyiv on Monday: office New UK PM Andy Burnham to make visit to Kyiv on Monday: office Updated on: Aug 24, 2026, 07:41:28 IST AFP Prefer HTon Google Share via Copy link British Prime Minister Andy Burnham will visit Kyiv on Monday on his first international
14 hours ago
Bengaluru vs Gurgaon? Man who lived in both cities explains why the comparison is ‘completely pointless’ A man said the Bengaluru versus Gurgaon debate was pointless and urged people to live in both cities before deciding. Published on: Aug 24, 2026
14 hours ago
Circle Wealth CIO and Managing Partner Chadha said the market was rewarding companies with strong earnings and improving outlooks, even as large-cap stocks remained under pressure. Diwali season is expected to bring a fresh boost for Indian equities following strong corporate earnings
14 hours ago
The restriction was imposed under Section 26A of the Drugs and Cosmetics Act, 1940, which governs the import, manufacture, distribution, and sale of drugs and cosmetics. The central government on Saturday restricted the manufacturing, sale and distribution of all fixed-dose combinations (FDCs)
14 hours ago
Ukraine backers gather as war escalates, air defence runs low Ukraine backers gather as war escalates, air defence runs low Updated on: Aug 24, 2026, 07:41:29 IST AFP Prefer HTon Google Share via Copy link Ukraine on Monday hosts a meeting of its key European backers to press for critical
14 hours ago
'Trouble proving citizenship after representing India in 3 countries': Ex-envoy to ECI over Punjab SIR Suri served as India’s ambassador to the UAE and Egypt and high commissioner to Australia. Updated on: Aug 24, 2026, 07:34:33 IST By HT Correspondent Prefer HTon Google Share via Copy link
14 hours ago
2 killed after illegal building in Hyderabad's Gachibowli caves in Officials alleged that the building was built over or adjacent to a drain without the required permissions. Published on: Aug 23, 2026, 14:41:02 IST By Srinivasa Rao Apparasu Prefer HTon Google Share via Copy link At least two
1 days ago
J'khand: Compensation of ₹31 lakh each given to families of 3 engineers burnt alive at steel plant J'khand: Compensation of ₹31 lakh each given to families of 3 engineers burnt alive at steel plant Published on: Aug 23, 2026, 14:43:04 IST PTI Prefer HTon Google Share via Copy link Ramgarh
1 days ago
Jaiñtia Hills to the G7: Can Meghalaya turn ‘Lakadong’ into a global brand? The high-curcumin turmeric has gone from an obscure hill crop to a GI-tagged premium product showcased before world leaders. Updated on: Aug 23, 2026, 14:48:20 IST By David Laitphlang
1 days ago
Ex-NRI shares why she takes auto for 1 km ride to gym after moving to India: 'Life here is a compromise' The woman shared that she has to walk through an area where "everybody stares", while the pathway is "ubad-khabad", dirty and encroached. Updated on: Aug 23, 2026
1 days ago
