https://www.taxtmi.com/acts?id=32509 Section 29A is amended to tighten and clarify resolution-applicant eligibility: accounts must exist at the time of plan submission; guidelines of non-Banking financial regulators are included; financial entities not related parties are excluded from certain disqualifications; related-party status excludes financial creditors whose relatedness arises solely from pre-insolvency debt-to-equity conversion; resolution-plan acquirers of NPA accounts under prior approved plans are protected from clause (c) for three years. Conviction-based disqualifications, guarantee invocation conditions, and exceptions for prior transactions and connected persons are also revised, and a new definition of financial entity is inserted. en-us Mon, 20 Aug 2018 11:52:53 +0530 Mon, 20 Aug 2018 11:52:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=32509 Section 29A is amended to tighten and clarify resolution-applicant eligibility: accounts must exist at the time of plan submission; guidelines of non-Banking financial regulators are included; financial entities not related parties are excluded from certain disqualifications; related-party status excludes financial creditors whose relatedness arises solely from pre-insolvency debt-to-equity conversion; resolution-plan acquirers of NPA accounts under prior approved plans are protected from clause (c) for three years. Conviction-based disqualifications, guarantee invocation conditions, and exceptions for prior transactions and connected persons are also revised, and a new definition of financial entity is inserted. Act-Rules F. Acts / Amendment Acts Mon, 20 Aug 2018 11:52:53 +0530 https://www.taxtmi.com/acts?id=32509