Prior Approval of CCI Mandatory before CoC Examination on Resolution Plan Involving Combination: Supreme Court

The Supreme Court ruled that prior approval from the Competition Commission of India (CCI) is mandatory before the Committee of Creditors (CoC) can examine a resolution plan that involves a combination, i.e., mergers or acquisitions. The decision highlights the importance of antitrust scrutiny in corporate restructuring processes under the Insolvency and Bankruptcy Code (IBC). The ruling ensures that such transactions do not negatively impact competition in the market, protecting consumer interests and promoting fair business practices.