Under Section 29A of the IBC, 2016, certain persons are INELIGIBLE to submit a resolution plan, including:

Section 29A of the IBC bars the submission of a resolution plan by certain INELIGIBLE persons - including an UNDISCHARGED INSOLVENT, a WILLFUL DEFAULTER, a person whose account has been classified as a Non-Performing Asset for the prescribed period and who is in default beyond the prescribed limit, persons convicted of specified offences, and those disqualified elsewhere - to prevent misuse of the resolution process by those who have caused the corporate debtor's distress. The ineligibility extends to related parties/ concerted persons. Its aim is to keep the CIRP clean and creditor-protective. Section 29A therefore filters who may be a successful resolution applicant.