Section 29A(c) disqualification must be assessed on the date the...

Section 29A(c) disqualification must be assessed on the date the resolution plan is submitted, and an earlier NPA-based default cannot be relied on once the relevant corporate debtor's CIRP has ended with approval of a resolution plan and change of management. The Supreme Court held that no dues in praesenti survived on that date, so the appellant was not ineligible under Section 29A(c); prior employment and later slump-sale acquisition were insufficient to attract the bar. It further held that Section 29A(j) is only derivative of a valid ineligibility under clauses (a) to (i), so the connected-person objection also failed. The appeals were allowed, the NCLAT orders were set aside, and the resolution plan was directed to be processed further.

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