Author: Mukesh Kumar Suman

IBC

INDEPENDENT SUGAR CORPORATION LTD. VS GIRISH SRIRAM JUNEJA  & ORS: CASE SUMMARY

The Supreme Court in Independent Sugar Corporations Ltd. Vs. Girish Sriram Juneja & Ors (Civil Appeal No. 6071 /2023) held that obtaining approval by Competition Commission of India prior to the approval of the resolution plan by the Committee of Creditors is mandatory in cases where there is provision for combination under the Resolution Plan. The objectives of the IBC and the Competition Act must necessarily be in harmony with one another. Expeditious resolution cannot come at the cost of disregarding statutory provisions

Read More