https://www.taxtmi.com/highlights?id=61556 Eligibility of persons to be resolution applicant - The word “such creditor” in Section 29A(h) has to be interpreted to mean similarly placed creditors after the application for insolvency application is admitted by the adjudicating authority. As a result, what is required to earn a disqualification under the said provision is a mere existence of a personal guarantee that stands invoked by a single creditor, notwithstanding the application being filed by any other creditor seeking initiation of insolvency resolution process. This is subject to further compliance of invocation of the said personal guarantee by any other creditor - Ineligibility has to be seen from the point of view of the resolution process. It can never be said that there c..... en-us Fri, 21 Jan 2022 12:00:55 +0530 Fri, 21 Jan 2022 12:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=61556 Eligibility of persons to be resolution applicant - The word “such creditor” in Section 29A(h) has to be interpreted to mean similarly placed creditors after the application for insolvency application is admitted by the adjudicating authority. As a result, what is required to earn a disqualification under the said provision is a mere existence of a personal guarantee that stands invoked by a single creditor, notwithstanding the application being filed by any other creditor seeking initiation of insolvency resolution process. This is subject to further compliance of invocation of the said personal guarantee by any other creditor - Ineligibility has to be seen from the point of view of the resolution process. It can never be said that there c..... Highlights Insolvency and Bankruptcy Fri, 21 Jan 2022 12:00:55 +0530 https://www.taxtmi.com/highlights?id=61556