https://www.taxtmi.com/caselaws?id=792937 Eligibility under Section 29A(c) of the Insolvency and Bankruptcy Code must be tested on the date of submission of the resolution plan; a past NPA that was already resolved under an approved plan, with earlier dues extinguished, cannot later be relied on to disqualify a bidder. On the facts stated, the appellant was not an NPA on the relevant date, and no subsisting control over an NPA account was shown. Section 29A(j) did not apply because the alleged connected-person disqualification under clause (c) failed, and no independent basis for derivative ineligibility was established. The impugned disqualification findings were set aside and the appellant was held eligible to participate in the CIRP. en-us Thu, 14 May 2026 00:00:00 +0530 Sat, 06 Jun 2026 08:42:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792937 Eligibility under Section 29A(c) of the Insolvency and Bankruptcy Code must be tested on the date of submission of the resolution plan; a past NPA that was already resolved under an approved plan, with earlier dues extinguished, cannot later be relied on to disqualify a bidder. On the facts stated, the appellant was not an NPA on the relevant date, and no subsisting control over an NPA account was shown. Section 29A(j) did not apply because the alleged connected-person disqualification under clause (c) failed, and no independent basis for derivative ineligibility was established. The impugned disqualification findings were set aside and the appellant was held eligible to participate in the CIRP. Case-Laws IBC Thu, 14 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792937