https://www.taxtmi.com/caselaws?id=788171 Section 29A eligibility is assessed substantively at the resolution-plan submission date, including de facto control, connected persons, persons acting in concert and continuing involvement with an entity whose account was classified as NPA. Cross-shareholding, directorships, post-resolution asset transfers, operational roles and corporate guarantees may indicate disqualifying connections. The statutory proviso requires payment of overdue amounts to cure the disqualification. On the stated facts, the resolution applicant remained ineligible and its recall request failed. The CIRP was directed to continue through issuance of a fresh Form G and further resolution-plan processing, with an independent regulatory inquiry into procedural and disclosure issues. en-us Thu, 12 Mar 2026 00:00:00 +0530 Wed, 18 Mar 2026 08:20:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788171 Section 29A eligibility is assessed substantively at the resolution-plan submission date, including de facto control, connected persons, persons acting in concert and continuing involvement with an entity whose account was classified as NPA. Cross-shareholding, directorships, post-resolution asset transfers, operational roles and corporate guarantees may indicate disqualifying connections. The statutory proviso requires payment of overdue amounts to cure the disqualification. On the stated facts, the resolution applicant remained ineligible and its recall request failed. The CIRP was directed to continue through issuance of a fresh Form G and further resolution-plan processing, with an independent regulatory inquiry into procedural and disclosure issues. Case-Laws IBC Thu, 12 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788171