Sir , as per section 54A(2)(d) corporate debtor is eligible to submit a resolution plan under section 29A , my question is that considering the provisions of section 29A how can a corporate debtor is eligible to submit resolution plan as there are some NPA or some other things thatwhy it is undergoing ppirp
Exemption has been given to MSME under section 240A of Insolvency Code regarding clauses (c) and (h) of section 29A. Section 240A provides that "Notwithstanding anything to the contrary contained in this Code, the provisions of clauses (c) and (h) of section 29A shall not apply to the resolution applicant in respect of corporate insolvency resolution process or pre-packaged insolvency resolution process of any micro, small and medium enterprises.
by Shubhamm Sir
at 01-May-2023 05:03 PM