Supreme Court Decides: Resolution Applicant Eligibility Cut-Off Date Under S.240A Tied to Resolution Plan Submission, Not CIRP Initiation
In a pivotal ruling, the Supreme Court has clarified that, according to Section 240A of the Insolvency and Bankruptcy Code, the decisive date for determining the eligibility of a resolution applicant to submit a resolution plan is the date of submission of the plan, not the initiation date of the Corporate Insolvency Resolution Process (CIRP). …


