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<h1>Ineligibility to submit resolution plan limits applicants with specified insolvency, default, conviction, or related-party disqualifications.</h1> Section 29A prescribes categories of persons barred from submitting a resolution plan: undischarged insolvents; wilful defaulters; applicants or promoters with accounts classified as non performing assets (subject to a one year lapse or payment of overdue amounts before submission); persons convicted of serious offences; those disqualified as directors; persons prohibited by securities law from market access; promoters or controllers of corporate debtors involved in specified adverse transactions where an Adjudicating Authority order exists; guarantors of invoked unpaid guarantees; persons subject to equivalent foreign disabilities; and applicants with an ineligible connected person. Provisos and explanations create exceptions for certain financial entities and for transactions predating approved acquisitions.