Section 29A ineligibility doesn't apply to ongoing insolvency proceedings, NCLTJune 8 2018
The Mumbai Bench of the National Company Law Tribunal (NCLT) has, in a single stroke, passed a set of orders that are new to the Insolvency and Bankruptcy Code (IBC) jurisprudence. Judicial Member MK Shrawat has ruled that Section 29A ineligibility doesn't apply to ongoing insolvency proceedings
The decision is one that is likely to have far-reaching consequences, given all the eligibility hurdles the resolution applicants face in big cases. It also possibly points out an argument which could have been pursued by lawyers in . . .
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