https://www.taxtmi.com/caselaws?id=300998 The Adjudicating Authority dismissed the Applicant's request to convene a meeting of Creditors to consider a scheme of compromise/settlement under Sections 230-232 of the Companies Act. The Authority upheld the ineligibility of the Applicant, an ex-Promoter/ex-Director found guilty of preferential transactions, under Section 29A(g) of IBC 2016 and Regulation 2(B)(1) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The decision emphasizes the strict application of these provisions to prevent disqualified parties from participating in insolvency proceedings, ensuring the integrity of the process. en-us Tue, 04 Jan 2022 00:00:00 +0530 Mon, 07 Mar 2022 13:13:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300998 The Adjudicating Authority dismissed the Applicant's request to convene a meeting of Creditors to consider a scheme of compromise/settlement under Sections 230-232 of the Companies Act. The Authority upheld the ineligibility of the Applicant, an ex-Promoter/ex-Director found guilty of preferential transactions, under Section 29A(g) of IBC 2016 and Regulation 2(B)(1) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. The decision emphasizes the strict application of these provisions to prevent disqualified parties from participating in insolvency proceedings, ensuring the integrity of the process. Case-Laws Insolvency and Bankruptcy Tue, 04 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300998