https://www.taxtmi.com/caselaws?id=386073 In an MSME insolvency, a promoter who is not ineligible under section 29A may be considered for a resolution plan even if the usual competitive process has not first been fully completed. The Committee of Creditors may defer issuance of the expression of interest and circulation of the information memorandum in exceptional circumstances where the promoter's proposal is viable, feasible and compliant with the Code, and capable of maximising value and balancing stakeholder interests. The Tribunal also declined to grant the appellants a further opportunity to submit a plan, noting the advanced stage of the process and related eligibility concerns. en-us Thu, 04 Jul 2019 00:00:00 +0530 Sat, 13 Mar 2021 13:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386073 In an MSME insolvency, a promoter who is not ineligible under section 29A may be considered for a resolution plan even if the usual competitive process has not first been fully completed. The Committee of Creditors may defer issuance of the expression of interest and circulation of the information memorandum in exceptional circumstances where the promoter's proposal is viable, feasible and compliant with the Code, and capable of maximising value and balancing stakeholder interests. The Tribunal also declined to grant the appellants a further opportunity to submit a plan, noting the advanced stage of the process and related eligibility concerns. Case-Laws Insolvency and Bankruptcy Thu, 04 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386073