Disqualification u/s 29A of IBC unjustified as related party ceased to be in helm of affairs of corporate debtor

Eva Agro Feeds Private Limited Vs Punjab National Bank And Anr (Supreme Court of India) Supreme Court of India held that disqualification under section 29A of the Insolvency and Bankruptcy Code is without any substance as the related party had ceased to be in the helm of affairs of the corporate debtor more than a decade ago. Facts- Huvepharma Sea (Pune) Private Limited filed an application u/s. 9 of the Code against M/s. Amrit Feeds Limited e. corporate debtor before the Tribunal. The Tribunal passed an order admitting the application filed u/s. 9 of the Code as a result of which corporate in...