Corporate insolvency resolution process amended with expanded disclosure, guarantor asset transfer rules, and new dissolution and restoration procedur...
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Insolvency and BankruptcyFebruary 25, 2020Case LawsTri
Status of corporate debtor claiming as MSME - CIRP proceedings - Persons not eligible to be Resolution Applicant u/s 29A - No doubt an option is given to micro or small enterprises or to the medium enterprises engaged in rendering of services. If the person who established the enterprises, is not exercised the option of filing the memorandum with the specified authority under sub-section (3) or (4) of section 8, then the person who is running the enterprises, is not entitled for the benefits under the MSME Act. - Tri
Status of corporate debtor claiming as MSME - CIRP proceedings - Persons not eligible to be Resolution Applicant u/s 29A - No doubt an option is given to micro or small enterprises or to the medium enterprises engaged in rendering of services. If the person who established the enterprises, is not exercised the option of filing the memorandum with the specified authority under sub-section (3) or (4) of section 8, then the person who is running the enterprises, is not entitled for the benefits under the MSME Act. - Tri
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