The Kolkata bench of the National Company Law Tribunal on Wednesday ordered the resolution professional of Binani Cement to accept the revised offer of Rs 79.60 billion from UltraTech Cement and place it before lenders...
Binani war to drag further, Dalmia may contest NCLT order
The Dalmia Bharat Group expressed surprise over the NCLT Kolkata bench order to Committee of Creditors (CoC) of Binani CementNSE 0.00 % today to consider the revised bid of Ultra Tech Cement and hinted at contesting it...
NCLT reserves order on Binani Cement
The Kolkata bench of National Company Law Tribunal (NCLT) on Tuesday reserved its order on the ongoing corporate insolvency resolution process of Binani CementNSE 0.00 % after listening to multiple petitions related to...
Mapping insolvency: UltraTech open to raising Binani Cement offer
UltraTech Cement has indicated it would increase its offer yet again for acquiring bankrupt Binani Cement if the Dalmia Bharat-led consortium matched its last offer. UltraTech Cement recently upped its offer to Rs 79.6...
Stuck to norms while denying UltraTech bid: Binani Cement lenders
Lenders of Binani Cement Ltd on Tuesday told the Kolkata bench of the National Company Law Tribunal (NCLT) that they declined to consider the revised bid of Ultratech Cement Ltd because they were of the view that the...
UltraTech sweetens Binani bid, raises offer to Rs 7,990 crore
UltraTechNSE 0.03 % Cement, which lost out to a Dalmia BharatNSE 0.83 % led consortium in bidding for Binani CementNSE 0.00 %, has made yet another improved offer that’s worth Rs 7,990 crore, up Rs 700 crore from the...
Binani Cement resolution back to NCLT after promoters withdraw appeal in SC
The resolution process of debt-ridden Binani Cement seems to be going nowhere. Binani Industries, the promoters of Binani Cement, which had moved the Supreme Court seeking approval for an out-of-court settlement with...
Binani cement bankruptcy proceedings: Dalmia seeks CVC’s intervention
Dalmia Bharat has sought the Central Vigilance Commission’s (CVC) intervention in the Binani CementNSE 0.00 % bankruptcy proceedings, arguing that the lenders’ reported move to allow the promoters to seek an out-of...
Binani lenders decide to back UltraTech if it gets SC go-ahead
UltraTech’s chances of winning the battle for bankrupt Binani CementNSE 0.00 % strengthened as lenders backed the Aditya Birla Group company’s bid, although the banks have left the matter to be decided by the...
Binani Industries files application to terminate insolvency proceedings of Binani Cement
Binani Industries LtdNSE 6.64 % today said it has filed application for termination of insolvency resolution process of its debt-ridden subsidiary Binani Cement Ltd (BCL). Binani Industries Ltd (BIL) has received an...
Binani lenders want Supreme Court stamp for UltraTech deal
Lenders to Binani CementBSE 0.06 % have asked its promoter company Binani IndustriesBSE 4.96 % to get the Supreme Court’s stamp of approval for its out-of-court deal with UltraTechBSE 1.43 % Cement, banking sources...
UltraTech Cement gets a second chance to takeover Binani Cement
On account of an order from the Kolkata bench of NCLT, extending the timeline to consider an out-of-court settlement, the Aditya Birla Group controlled UltraTech Cement has got its second chance to take control and...
