Eligibility to submit Resolution Plan - former promotor/director of the company - Ineligibility is being...

Eligibility to submit Resolution Plan - former promotor/director of the company - Ineligibility is being held only on the ground that Respondent No.2 was promoter of the Corporate Debtor till 2018 when he resigned. The view taken by the Adjudicating Authority is not as per the true and correct interpretation of Section 29A. Section 29A does not make per se promoters and directors ineligible to submit a plan unless they are ineligible under clauses (a) to (g) - Since in the present case, it is no..... .....

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