Dalmia Cement gets CCI nod for the acquisition of Binani Cement

The Competition Commission of India (CCI) has approved the acquisition of Binani Cement by Dalmia Cement. This is the first acquisition under the Insolvency and Bankruptcy Code that has been cleared by the CCI. Dalmia Cement’s bid for Binani was the best received by the resolution professional and the committee of creditors. According to the Code, by the end of the 180-day moratorium period, a firm can be acquired after presenting a resolution plan, failing which the company will go in for liquidation.