The government may allow creditors to sell or transfer assets of a guarantor even while insolvency proceedings are underway. The Insolvency and Bankruptcy Board of India (IBBI) has proposed a framework under which a creditor that has already taken possession of a guarantor’s asset can ask the resolution professional (RP) to value it and place a proposal before the committee of creditors (CoC) for its transfer—subject to approvals and treatment of proceeds. At present, the sale or transfer of a guarantor’s asset is not permitted once the corporate insolvency resolution process (CIRP) or personal insolvency proceedings have begun.