# Corporate debt

• The supreme court on friday upheld a government move to allow lenders to initiate insolvency proceedings against personal gurantors.

• Personal gurantors are usually promoters of big business houses, along with the stressed corporate entities for whom they gave gurantee.

• Supreme court has passed a judgement in favour of government where it has allowed creditors, usually financial institutions and banks, to move against personal gurantors under the Insolvency and bankruptcy code, as legal and valid.

# Sunderlal Bahuguna

• Well-known environmentalist and Gandhian Sunderlal Bahuguna is no more.

• He was one of the founders of the chipko movement in the 1970s to save himalayan trees.

• Mr. Bahuguna also led the charge against the construction of big dams in the himalayas in the 1980s including Tehri dam.

# INS Rajput

• Destroyer INS Rajput, built by the erstwhile USSR, was decommissioned on friday at naval dockyard, Visakhapatnam after 41 years of service.

• INS Rajput has participated in several important operations over the years, including operation “Aman” off Srilanka to assist the Indian peace keeping force (IPKF).

# Foreign minister’s US visit

• External affairs minister S. Jaishankar will travel to the US next week to discuss bilateral issues and covid related operation.

• Foreign minister will meet UN secretary general Antonio Guterres and US secretary of state Antony Blinken.

• Mr. Jaishankar is also expected to meet American vaccine manufacturers, and discussions are expected to focus on commercial procurement of vaccine doses.

# Reserve Bank of India

• The reserve bank of India’s board approved a significantly higher than expected surplus transfer to the government on friday.

• The RBI announced surplus transfer of 99,122 crore for the 9 month period from july 2020 to march 2021.