https://www.taxtmi.com/caselaws?id=401622 A purported facilitation arrangement under Section 230 of the Companies Act, 2013 was treated as a backdoor attempt to secure control of the corporate debtor because the scheme was appellant-centric and the appellant was materially connected with implementation; the arrangement was therefore hit by the ineligibility bar under Section 29A of the Insolvency and Bankruptcy Code, 2016. After liquidation commenced, statutory control vested in the liquidator, so the appellant could not bypass that process to obtain MSME registration or pursue Section 230 steps directly; no further opportunity was granted. en-us Tue, 08 Dec 2020 00:00:00 +0530 Sat, 12 Dec 2020 07:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401622 A purported facilitation arrangement under Section 230 of the Companies Act, 2013 was treated as a backdoor attempt to secure control of the corporate debtor because the scheme was appellant-centric and the appellant was materially connected with implementation; the arrangement was therefore hit by the ineligibility bar under Section 29A of the Insolvency and Bankruptcy Code, 2016. After liquidation commenced, statutory control vested in the liquidator, so the appellant could not bypass that process to obtain MSME registration or pursue Section 230 steps directly; no further opportunity was granted. Case-Laws Insolvency and Bankruptcy Tue, 08 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401622