Ex-promoters, can submit bids if eligible under Section 29A of IBC: NCLAT – Business Standard
The National Company Law Appellate Tribunal (NCLAT) on Thursday said former promoters and directors of a company going through insolvency process are not barred from submitting bids until they are ineligible under clauses of Section 29A of the insolvency law. The mere fact that someone was a promoter and director of a company going through…