https://www.taxtmi.com/caselaws?id=392628 MSME-based exemption under section 240A of the Insolvency and Bankruptcy Code applies only when the corporate debtor affirmatively proves valid MSME status under the governing registration and memorandum requirements. A mere acknowledgement of an application for registration does not confer legal status or entitlement under the Micro, Small and Medium Enterprises Development Act, 2006. On that basis, the resolution professional was not required to treat the promoter-director as a permissible resolution applicant or revise the expression of interest, and the challenge to the rejection of the bid failed because the rejection was for non-compliance with EOI requirements, not solely for section 29A disqualification. en-us Fri, 09 Aug 2019 00:00:00 +0530 Tue, 25 Feb 2020 06:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392628 MSME-based exemption under section 240A of the Insolvency and Bankruptcy Code applies only when the corporate debtor affirmatively proves valid MSME status under the governing registration and memorandum requirements. A mere acknowledgement of an application for registration does not confer legal status or entitlement under the Micro, Small and Medium Enterprises Development Act, 2006. On that basis, the resolution professional was not required to treat the promoter-director as a permissible resolution applicant or revise the expression of interest, and the challenge to the rejection of the bid failed because the rejection was for non-compliance with EOI requirements, not solely for section 29A disqualification. Case-Laws Insolvency and Bankruptcy Fri, 09 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392628