https://www.taxtmi.com/caselaws?id=433722 The Tribunal upheld the Adjudicating Authority's decision, determining that Redbrick Consulting Pvt. Ltd. did not qualify as an MSME due to the lack of Udyam Registration, rendering it ineligible to claim benefits under section 240-A of the IBC. Additionally, the Tribunal found Redbrick Consulting Pvt. Ltd. ineligible to submit a resolution plan under section 29-A of the IBC due to Mr. Gnyandeep Kantipudi's dual directorship. Consequently, the e-auction was set aside, and the liquidator was instructed to conduct a fresh valuation and re-auction the corporate debtor. The appeal was dismissed without costs. en-us Mon, 06 Feb 2023 00:00:00 +0530 Tue, 07 Feb 2023 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433722 The Tribunal upheld the Adjudicating Authority's decision, determining that Redbrick Consulting Pvt. Ltd. did not qualify as an MSME due to the lack of Udyam Registration, rendering it ineligible to claim benefits under section 240-A of the IBC. Additionally, the Tribunal found Redbrick Consulting Pvt. Ltd. ineligible to submit a resolution plan under section 29-A of the IBC due to Mr. Gnyandeep Kantipudi's dual directorship. Consequently, the e-auction was set aside, and the liquidator was instructed to conduct a fresh valuation and re-auction the corporate debtor. The appeal was dismissed without costs. Case-Laws Insolvency and Bankruptcy Mon, 06 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433722