The section 29A sets out ineligibility criteria for resolution applicants, and multiple responsibilities under the Code and CIRP Regulations require RPs and prospective resolution applicants to verify and confirm eligibility. These include mandatory disclosures in Form G, undertakings with Expressions of Interest, affidavits with resolution plans and due diligence by the RP to confirm compliance before presenting plans to the Committee of Creditors (CoC). RPs must now place a detailed note on Section 29A compliance before the CoC and ensure that related discussions and observations are accurately recorded in the minutes.