The Insolvency and Bankruptcy Board of India (IBBI) has proposed new draft regulations requiring personal guarantors of stressed companies to disclose their assets during bankruptcy proceedings. This includes a wide range of holdings such as cryptocurrencies, jewellery, art collections, and high-end watches. The regulations aim to enhance transparency and accountability, addressing concerns that many guarantors may not hold assets directly in their names. The proposed regulations will introduce a mandatory 'statement of assets' disclosure as part of the Insolvency Resolution Process for Personal Guarantors to Corporate Debtors Regulations, 2019. Since personal guarantors were included under the Insolvency and Bankruptcy Code (IBC) in December 2019, there have been 4,386 applications filed, with 662 filed by the guarantors themselves, involving debts totaling ₹30,949 crore (approximately $3.7 billion USD). This comprehensive asset declaration will also cover assets indirectly owned or controlled by the guarantors, ensuring that all potential sources of financial benefit are reported.