Binani Cement is currently undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (IBC). Photo: Bloomberg
New Delhi: The Competition Commission of India (CCI) on Wednesday unconditionally approved the proposed acquisition of Binani Cement Ltd by Rajputana Properties, subsidiary of Dalmia Bharat Cement Ltd.
Binani Cement is currently undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (IBC).
This is the first transaction to be notified to the CCI involving the acquisition of a corporate debtor under the insolvency code. The transaction has been cleared by the competition commission within 13 working days after it was filed.
According to a Mint story o…
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