A corporate debtors journey from admission to resolution comprises various compliances and procedures in India, as prescribed in the Insolvency and Bankruptcy Code, 2016 (IBC) and regulations. One of the key steps is implementation of a resolution plan, which requires approvals from relevant regulators under applicable law.
Partner
Shardul Amarchand
Mangaldas & Co
An amendment in 2018 (sub-section (4) under section 31) mandated a resolution applicant to obtain necessary approvals within one year from date of approval of the resolution plan, or within the timeline prescribed, whichever is later.
Approval by the Competition Commission of India (CCI) under section 5 of the Competition Act, 2002 (CCI Act) was trea…
Read the full article at: https://law.asia/corporate-insolvency-approvals/