https://www.taxtmi.com/article/detailed?id=8027 The regime defines a resolution applicant as a person who submits a resolution plan following an invitation; the resolution professional must prepare an information memorandum, provide access to relevant information, and ensure applicants comply with confidentiality and intellectual property obligations and submit an eligibility affidavit. Sectional ineligibility rules bar applicants for reasons including insolvency, wilful default, certain nonperforming account classifications unless remedied, specific criminal convictions, director disqualification, SEBI prohibitions, prior culpable transactions found by the adjudicating authority, invoked unpaid guarantees, foreign disabilities, or a connected person's ineligibility, with specified exceptions for financial entities. Approved plans require committee endorsement and adjudicating authority confirmation and entail statutory approvals for implementation. en-us Wed, 13 Jun 2018 08:56:47 +0530 Wed, 13 Jun 2018 08:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8027 The regime defines a resolution applicant as a person who submits a resolution plan following an invitation; the resolution professional must prepare an information memorandum, provide access to relevant information, and ensure applicants comply with confidentiality and intellectual property obligations and submit an eligibility affidavit. Sectional ineligibility rules bar applicants for reasons including insolvency, wilful default, certain nonperforming account classifications unless remedied, specific criminal convictions, director disqualification, SEBI prohibitions, prior culpable transactions found by the adjudicating authority, invoked unpaid guarantees, foreign disabilities, or a connected person's ineligibility, with specified exceptions for financial entities. Approved plans require committee endorsement and adjudicating authority confirmation and entail statutory approvals for implementation. Articles Corporate Laws / IBC / SEBI Wed, 13 Jun 2018 08:56:47 +0530 https://www.taxtmi.com/article/detailed?id=8027