https://www.taxtmi.com/caselaws?id=362078 The judgment clarifies that the Resolution Professional (RP) cannot determine the eligibility of Resolution Applicants under Section 29A of the Insolvency and Bankruptcy Code. This responsibility falls to the Committee of Creditors (CoC) during their meetings. The CoC must follow a transparent procedure, record reasons for their decisions, and consider the views of all relevant parties. Once approved by the CoC, the resolution plan is submitted to the Adjudicating Authority for further review and potential acceptance or rejection of objections or suggestions. en-us Tue, 15 May 2018 00:00:00 +0530 Tue, 19 Jun 2018 10:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362078 The judgment clarifies that the Resolution Professional (RP) cannot determine the eligibility of Resolution Applicants under Section 29A of the Insolvency and Bankruptcy Code. This responsibility falls to the Committee of Creditors (CoC) during their meetings. The CoC must follow a transparent procedure, record reasons for their decisions, and consider the views of all relevant parties. Once approved by the CoC, the resolution plan is submitted to the Adjudicating Authority for further review and potential acceptance or rejection of objections or suggestions. Case-Laws Insolvency and Bankruptcy Tue, 15 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362078