New Delhi, Jan 30 (KNN) In a game-changing ruling, India’s Supreme Court has significantly altered the country’s insolvency landscape by mandating that any Resolution Plan involving mergers or acquisitions (termed “combinations”) must first obtain approval from the Competition Commission of India (CCI) before being reviewed by the Committee of Creditors (CoC).
This decision, passed by a three-judge bench, reinforces the importance of competitive markets and ensures that antitrust concerns are addressed early in the insolvency process.
Under the Insolvency and Bankruptcy Code (IBC), companies undergoing Corporate Insolvency Resolution Process (CIRP) receive bids from potential buyers.
These Resolution Plans are then…
