Regulation - 10, Statement of affairs.

(1) The resolution professional shall prepare a statement of affairs of the guarantor for the purposes of clause (b) of sub- section (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.