Ignore CCI at your own peril

What is the role of the Competition Commission of India in the insolvency resolution process?

The enactment of the Insolvency and Bankruptcy Code (IBC), 2016, has resulted in large corporate entities queuing up to acquire distressed companies and their assets, put on the block following the initiation of IBC proceedings. The acquisition of a corporate debtor under the IBC begins with the submission of a resolution plan to the resolution professional (RP) by the resolution applicant (acquirer/bidder), followed by the approval of such resolution plan by the Committee of Creditors (CoC) and finally by the National Company Law Tribunal (NCLT). 

The recent Supreme Court judgement restraining Binani Industries, the parent company of Binani Cement, to withdraw