Question

Under Section 29A of the Insolvency and Bankruptcy Code, 2016, which of the following persons is INELIGIBLE to submit a resolution plan?

A A financial creditor who has never defaulted on any loan
B A promoter of the corporate debtor who has an account classified as a Non-Performing Asset (NPA) for one year or more and has not paid off the outstanding debt
C An employee of the corporate debtor who wishes to form a consortium to submit a plan
D A foreign company incorporated outside India but having no outstanding dues to any Indian bank
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