Section 29A(C) of IBC disqualifies persons Managing and Controlling Corporate Debtor who Failed to Clear Debts: NCLAT [Read Order]

Section 29A(C) of IBC disqualifies persons managing and controlling corporate debtor who failed to clear debts, rules NCLAT
NCLAT - NCLAT Delhi - IBC - Insolvency and Bankruptcy Code - TAXSCAN

The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) ruled that Section 29A(C) of the Insolvency and Bankruptcy Code, 2016 ( IBC ) disqualifies persons managing and controlling corporate debtor who failed to clear debts. The Appeal has been filed by the Appellant challenging the order passed by NCLT, New…

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