NCLAT Affirms Ineligibility of Wilful Defaulter to Submit Resolution Plan

Namdev Hindurao Patil Vs Virendra Kumar Jain (NCLAT Delhi) The case of Namdev Hindurao Patil Vs Virendra Kumar Jain before the National Company Law Appellate Tribunal (NCLAT) Delhi, addressed multiple interlocutory applications (I.A.s) related to the liquidation of a Corporate Debtor. The key issue was the eligibility of the Appellant (Namdev Hindurao Patil) under Section 29A of the Insolvency and Bankruptcy Code (IBC) to submit a Resolution Plan for the Corporate Debtor. Background and Issues The Corporate Debtor was admitted under Corporate Insolvency Resolution Process (CIRP) on 16.09.2021,...