Resolution plan didn’t require prior approval of CCI as exempt vide MCA notification dated 07.03.2024

Alchemist Asset Reconstruction Company Ltd Vs ASC Insolvency Services LLP & Ors (NCLAT Delhi) NCLAT Delhi held that since the value of corporate debtor was covered by exemption issued by MCA by notification dated 07.03.2024 hence provision of section 5 of Competition Act, 2002 is not applicable, accordingly, there was no requirement of any approval from Competition Commission of India [CCI] for approval of resolution plan. Facts- This Appeal by a Dissenting Financial Creditor has been filed challenging the order dated 22.01.2025 passed by the Adjudicating Authority (National Company Law Tr...