Supreme Court Dismisses Byju Raveendran's Appeal Against NCLAT Order Mandating CoC Nod For BCCI's Plea To Withdraw CIRP

The Supreme Court on Friday dismissed an appeal filed by Byju Raveendran, suspended director and promoter of Think and Learn Private Ltd (which ran the Ed-Tech firm Byju's), challenging an order of the National Company Law Appellate Tribunal which held that the approval of the Committee of Creditors is necessary for the application filed by the BCCI to withdraw the insolvency proceedings...

IBC | For Resolution Plan Involving Combination, Prior Approval Of Competition Commission Mandatory Before CoC Examination : Supreme Court

The Supreme Court on January 29, by 2:1 majority, observed that a resolution plan under the Insolvency and Bankruptcy Code, containing a proposed combination(a merger or amalgamation of entities), should only be placed before the Committee of Creditors (CoC), after it has been approved by the Competition Commission of India (CCI).In this regard, the Court referred to Section 31(4) proviso of...