Section 10 in Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Regulations, 2019
10. Statement of affairs.
(1)The resolution professional shall prepare a statement of affairs of the guarantor for the purposes of clause (b) of subsection (3) of section 107.(2)The statement of affairs shall include the following information of the guarantor -(a)assets and liabilities for the preceding three financial years and the current financial year;(b)details of the excluded assets and excluded debts;(c)income statement for the preceding three financial years and the current financial year;(d)income-tax returns filed by the guarantor, if any, for the preceding three financial years;(e)creditor wise amount due, broken up into secured and unsecured debts for the preceding three financial years;(f)details of debt owed by guarantor to his associates for the preceding three financial years;(g)guarantees given in relation to any of his debts, and whether any of the guarantors is an associate of the guarantor; and(h)details of the financial statements for the business owned by the guarantor, or of the firm in which he is a partner, as the case may be, for the preceding three financial years, if applicable.
