https://www.taxtmi.com/caselaws?id=428272 The Tribunal rejected the Intervention Petition filed by a Non-Government Company representing SMEs in the glass industry, citing lack of locus standi as an outsider to the Corporate Insolvency Resolution Process. It emphasized the need for statutory compliances, including prior approval from the Competition Commission of India, before the Committee of Creditors approves any Resolution Plan. The Tribunal clarified that the Applicant's concerns regarding market competition fall under the CCI's jurisdiction and dismissed the Intervention Petition accordingly. The main Company Petition was scheduled for further proceedings on 31.10.2022. en-us Wed, 21 Sep 2022 00:00:00 +0530 Tue, 27 Sep 2022 19:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428272 The Tribunal rejected the Intervention Petition filed by a Non-Government Company representing SMEs in the glass industry, citing lack of locus standi as an outsider to the Corporate Insolvency Resolution Process. It emphasized the need for statutory compliances, including prior approval from the Competition Commission of India, before the Committee of Creditors approves any Resolution Plan. The Tribunal clarified that the Applicant's concerns regarding market competition fall under the CCI's jurisdiction and dismissed the Intervention Petition accordingly. The main Company Petition was scheduled for further proceedings on 31.10.2022. Case-Laws Insolvency and Bankruptcy Wed, 21 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428272