https://www.taxtmi.com/caselaws?id=788171 The note addresses two issues: first, whether the applicant was ineligible under Section 29A due to substantive de facto connections with a previously NPA entity. Applying a see-through/de facto control approach, purposive interpretation of Section 29A and the temporal test for connected persons, and finding cross shareholding, post resolution involvement, and incomplete disclosures, the note reports that ineligibility is retained. Second, whether the corporate insolvency resolution process should continue from fresh Form G stage: given the ineligibility finding, prior compliance steps and received EOIs, continuation of CIRP with immediate issuance of fresh Form G and a parallel regulatory inquiry is directed to proceed. 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 The note addresses two issues: first, whether the applicant was ineligible under Section 29A due to substantive de facto connections with a previously NPA entity. Applying a see-through/de facto control approach, purposive interpretation of Section 29A and the temporal test for connected persons, and finding cross shareholding, post resolution involvement, and incomplete disclosures, the note reports that ineligibility is retained. Second, whether the corporate insolvency resolution process should continue from fresh Form G stage: given the ineligibility finding, prior compliance steps and received EOIs, continuation of CIRP with immediate issuance of fresh Form G and a parallel regulatory inquiry is directed to proceed. Case-Laws IBC Thu, 12 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788171