The Insolvency and Bankruptcy Board of India (IBBI) has introduced draft regulations that require company promoters who guarantee corporate loans to disclose their personal assets during bankruptcy proceedings. This includes reporting ownership of cryptocurrency, retirement funds, and any foreign assets. The move is part of a broader effort to enhance transparency in the insolvency process and improve recovery outcomes for creditors. Since the inclusion of personal guarantors under the Insolvency and Bankruptcy Code (IBC) in December 2019, there have been 4,386 applications filed, with 662 initiated by guarantors involving debts of around ₹31,000 crore (approximately $3.7 billion USD). The new regulation, designated as regulation 6A, mandates that a complete statement of assets be included with insolvency applications. This aims to prevent promoters from concealing assets and to facilitate better valuation and recovery for creditors. The IBBI's proactive approach seeks to address the significant haircuts that banks have faced during debt resolutions, thereby improving the overall efficiency of the IBC process.