https://www.taxtmi.com/caselaws?id=294056 The Appellate Tribunal dismissed the appeal filed by the Promoter/Shareholder of the Corporate Debtor, affirming the Adjudicating Authority's decision. The Tribunal held that the Appellant, ineligible under Section 29A of the I&B Code, cannot file for a scheme of compromise and arrangement under Section 230-232 of the Companies Act, 2013. The decision aligned with the precedent set in a previous case, confirming that ineligibility under Section 29A precludes participation in such schemes. No costs were awarded, and the dismissal was without delay. en-us Thu, 19 Dec 2019 00:00:00 +0530 Tue, 12 Nov 2024 14:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294056 The Appellate Tribunal dismissed the appeal filed by the Promoter/Shareholder of the Corporate Debtor, affirming the Adjudicating Authority's decision. The Tribunal held that the Appellant, ineligible under Section 29A of the I&B Code, cannot file for a scheme of compromise and arrangement under Section 230-232 of the Companies Act, 2013. The decision aligned with the precedent set in a previous case, confirming that ineligibility under Section 29A precludes participation in such schemes. No costs were awarded, and the dismissal was without delay. Case-Laws IBC Thu, 19 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294056