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2022 (1) TMI 1215 - Tri - Insolvency and BankruptcySeeking convention of meeting of the Creditors - placing of scheme of compromise/settlement for their consideration before the creditors - ex-Promoters/Directors held guilty for the preferential transactions under Section 43 of the IBC, 2016 - HELD THAT:- In terms of Section 29A(g) of the IBC 2016 and Regulation 2(B)(1) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, the Applicant is not eligible to file any application under Sections 230-232 of the Companies Act. Reliance placed in the Hon'ble Supreme Court decision [2021 (3) TMI 611 - SUPREME COURT] in Civil Appeal No. 9664/2019 dated 15.03.2021, where it was held that it is clear that the Promoter, if ineligible under Section 29A Cannot make an application for Compromise and Arrangement for taking back the immovable property or actionable claims of the Corporate Debtor. Application dismissed.
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