Section 29A ineligibility doesn’t apply to ongoing insolvency proceedings, NCLT

Section 29A ineligibility doesn’t apply to ongoing insolvency proceedings, NCLT

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

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