Ineligibility criteria: prescribed transaction completion added alongside convertible-into-equity condition, altering eligibility for resolution applicants under insolvency regime The amendment adds the words 'or completion of such transactions as may be prescribed,' after 'convertible into equity shares' in clause (c) and clause (j) Explanation I second provisos of Section 29A, thereby treating completion of prescribed transactions as an additional operative factor within the ineligibility/disqualification framework for resolution applicants.
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Ineligibility criteria: prescribed transaction completion added alongside convertible-into-equity condition, altering eligibility for resolution applicants under insolvency regime
The amendment adds the words "or completion of such transactions as may be prescribed," after "convertible into equity shares" in clause (c) and clause (j) Explanation I second provisos of Section 29A, thereby treating completion of prescribed transactions as an additional operative factor within the ineligibility/disqualification framework for resolution applicants.
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