https://www.taxtmi.com/caselaws?id=398963 An application challenging rejection of a resolution plan was not accepted because the applicant was treated as ineligible under section 29A of the Insolvency and Bankruptcy Code on the relevant date. The record showed that the resolution plan and supporting material had been placed before the committee of creditors, and the ineligibility finding was linked to a connected director's association with a wilful defaulter. A later clarification purporting to show removal from the defaulters list did not alter the position existing at the time of consideration. The challenge to the committee's decision itself was left open for any appropriate future proceeding. en-us Wed, 01 Jul 2020 00:00:00 +0530 Tue, 29 Sep 2020 06:24:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398963 An application challenging rejection of a resolution plan was not accepted because the applicant was treated as ineligible under section 29A of the Insolvency and Bankruptcy Code on the relevant date. The record showed that the resolution plan and supporting material had been placed before the committee of creditors, and the ineligibility finding was linked to a connected director's association with a wilful defaulter. A later clarification purporting to show removal from the defaulters list did not alter the position existing at the time of consideration. The challenge to the committee's decision itself was left open for any appropriate future proceeding. Case-Laws Insolvency and Bankruptcy Wed, 01 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398963