In a setback to crisis-hit JaypeeNSE 0.00 % group, the CK Birla Group firm Orient Cement has terminated its Rs 1,946-crore deal to acquire Jaiprakash Associates Ltd’s (JAL) two firms — Bhilai Jaypee Cement...
Have got LoI from Binani lenders to acquire it, says UltraTech
The lenders of Binani CementNSE 0.00 % have issued letter of intent to UltraTech after approving its bid to acquire the company under the bankruptcy code, Aditya Birla group firm said today. The Committee of Creditors...
Binani Cement lenders vote in favour of UltraTech bid
UltraTechNSE 0.46 % appears to have won the race for Binani CementNSE 0.00 % after lenders, in a marathon, seven-hour meeting on Monday decided to sell the bankrupt cement maker to the country’s biggest cement producer...
Dalmia wants to vet UltraTech’s resolution plan for Binani Cement
Dalmia BharatNSE -3.46 % has written to lenders and RP of Binani CementNSE 0.00 % asking them to reveal to Dalmia the resolution plan submitted by UltraTechNSE -1.43 % for them to “examine the various assumptions...
Dalmia Bharat not to revise bid for Binani Cement
The Dalmia Bharat Group-backed consortium has decided not to revise its bid to match that of UltraTech for acquiring the stressed assets of Binani CementNSE 0.00 %. The deadline for the consortium offered by the...
Ultra Tech to acquire Century Textiles’ cement business
Aditya Birla Group firm UltraTechNSE 0.65 % said it would acquire the cement business of BK Birla Group company Century TextilesNSE -7.90 % and Industries through a share swap deal, a move which would further...
Supreme Court rejects Dalmia Bharat’s plea challenging NCLT’s Binani order
The apex court Thursday rejected a Dalmia BharatNSE 0.17 % plea that had sought a stay on an order allowing Binani Cement’s lenders to consider UltraTech’s revised bid, even as the resolution professional weighed the...
Dalmia Bharat moves SC on NCLT’s Binani Cement order, hearing on May 10
The consortium led by Dalmia Bharat Cement, which had previously emerged as the successful bidder for acquisition of the stressed assets of Binani Cement, has filed a petition in the Supreme Court to get order passed by...
Resolution Professional allows representation of Binani’s operational creditors
The Resolution Professional of the Binani Committee of Creditors (CoC) has allowed representation of the operational creditors of Binani CementNSE 0.00 %, despite no provision of the same under existing norms...
Binani CoC likely to discuss UltraTech bid on May 9
The Binani Committee of Creditors (CoC) is likely to meet on May 9 and discuss the revised bid of Ultra Tech Cement valued at around Rs 7900 crore for the debt-laden Binani CementNSE 0.00 %. “The CoC is meeting on...
Resolution professional valued Binani Cement assets improperly: NCLT
The Kolkata Bench of National Company Law Tribunal (NCLT), in its order, has upheld the allegations filed by the promoter of Binani Cement against the company’s resolution professional, Vijay Kumar Iyer, of conducting...
Binani Cement creditors laud NCLT order allowing fresh UltraTech bid
The operational creditors (OCs) of debt-ridden Binani CementNSE 0.00 % today lauded the NCLT order which directed the lenders to consider the revised bid of UltraTech CementNSE -0.02 % and reiterated its demand for...
