In the given case, two resolution plans were received by the CoC. One from Dinesh Textiles Private Limited and another one from Harsh. Examine the validity of both the resolution plans.

Section 29A of the Insolvency and Bankruptcy Code, 2016 expressly prohibits certain groups of people from taking part in the resolution process. In the matter of Dinesh Textiles Pvt. Ltd.: Section 29A(c) of the Insolvency and Bankruptcy Code, 2016 provides that a person shall not be eligible to submit a resolution plan, if such person, or any other person acting jointly or in concert with such person at the time of submission of the resolution plan has an account, or an account of a corporate debtor under the management or control of such person or of whom such person is a promoter, classified as non-performing asset in accordance with the guidelines of the Reserve Bank of India issued under the Banking Regulation Act, 1949 or the guidelines of a financial sector regulator issued under any other law for the time being in force, and at least a period of one year has lapsed from the date of such classification till the date of commencement of the corporate insolvency resolution process of the corporate debtor: Provided that the person shall be eligible to submit a resolution plan if such person makes payment of all overdue amounts with interest thereon and charges relating to non-performing asset accounts before submission of resolution plan; Provided further that nothing in this clause shall apply to a resolution applicant where such applicant is a financial entity and is not a related party to the corporate debtor. Therefore, if Dinesh Textiles Pvt. Ltd. paid off all the dues of the bank along with the interest, then only its application can be entertained. In the case of Harsh: Section 29A(d) of the Insolvency and Bankruptcy Code, 2016 provides that a person shall not be eligible to submit a resolution plan, if such person, or any other person acting jointly or in concert with such person has been convicted for any offence punishable with imprisonment- for two years or more under any Act specified under the Twelfth Schedule; or for seven years or more under any other law for the time being in force: Provided that this clause shall not apply to a person after the expiry of a period of two years from the date of his release from imprisonment. In the given case, Harsh came out of imprisonment for an offence under PMLA (an Act specified in the Twelfth Schedule) in December, 2021 which is more than two years back. Thus, as per the proviso to Section 29A(d) of the Code Harsh is eligible to apply.