https://www.taxtmi.com/caselaws?id=360131 The Tribunal found M/s. Numetal Limited ineligible as a Resolution Applicant under Section 29A due to its connection with a disqualified entity. M/s. Arcelor Mittal India Private Limited was also deemed ineligible under Section 29A for similar reasons. The Tribunal highlighted procedural lapses by the Committee of Creditors and directed reconsideration, emphasizing adherence to statutory provisions for a fair insolvency resolution process. Both companies were given the opportunity to rectify their ineligibility by paying overdue amounts within 30 days, promoting transparency and fairness in the resolution proceedings. en-us Thu, 19 Apr 2018 00:00:00 +0530 Thu, 10 May 2018 08:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=360131 The Tribunal found M/s. Numetal Limited ineligible as a Resolution Applicant under Section 29A due to its connection with a disqualified entity. M/s. Arcelor Mittal India Private Limited was also deemed ineligible under Section 29A for similar reasons. The Tribunal highlighted procedural lapses by the Committee of Creditors and directed reconsideration, emphasizing adherence to statutory provisions for a fair insolvency resolution process. Both companies were given the opportunity to rectify their ineligibility by paying overdue amounts within 30 days, promoting transparency and fairness in the resolution proceedings. Case-Laws Insolvency and Bankruptcy Thu, 19 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=360131