The Kolkata Bench of National Company Law Tribunal (NCLT) on Tuesday asked Vijaykumar Iyer, a resolution professional of Binani Cement, to appear in person in the tribunal in its next hearing to answer questions on the...
UltraTech to raise Binani bid by Rs 700 crore
Aditya Birla Group-owned UltraTechBSE 0.37 % Cement will increase its bid for Binani CementBSE 0.06 % by Rs 700 crore to Rs 7,200 crore, even as the bankrupt company’s committee of creditors on Wednesday approved the...
CCI rejects complaint against JSW Cement
The Competition Commission has dismissed allegations of abuse of dominance against JSW Cement in a matter related to denial of supply of cement. The complaint was made by Kerala-based Ramachandran V, an authorised...
Dalmia consortium cements position to acquire Binani
Lenders to bankrupt Binani CementBSE 0.06 % decided that the bid of a Dalmia Bharat-led consortium for the company, judged the highest offer, would be allowed, overruling the objections of Ultra-Tech Cement, said people...
UltraTech moves NCLT over assessing bids
After the Dalmia Bharat group won Binani CementBSE 0.06 % in a closely fought and multi-cornered battle for the debt-laden buildings material company, the Indian market leader UltratechBSE -0.02 % Tuesday approached the...
Insolvency issues: Lenders pick Dalmia Bharat for Binani Cement
Lenders have chosen a consortium led by Dalmia Bharat to take over Binani Cement, despite a close bid by the Aditya Birla group’s UltraTech. Dalmia had offered Rs 63.5 billion for Binani Cement, while UltraTech’s...
What does a deferred merger mean for ACC and Ambuja Cements shares?
Pan-India cement makers Ambuja Cements Ltd and ACC Ltd have put their full-fledged merger on hold. Instead, they have replaced it with a swap of materials and services. The Ambuja Cements management had first indicated...
Dalmia Bharat consortium emerges as highest bidder for Binani Cement
A consortium of Dalmia Bharat and Bain Piramal Resurgence Fund emerged the top bidder for Binani CementBSE 0.06 % trumping Aditya Birla Group’s UltraTech Cement, with a Rs 6,700 crore offer that will see banks getting...
ACC and Ambuja Cements place merger plans on hold
The long-due merger between the Swiss building materials maker LafargeHolcim’s Indian operations, Ambuja CementsBSE -3.79 % and ACCBSE -1.60 % Ltd, has been called off on Monday because of some “current constraints”...
UltraTech Cement closer to acquiring Binani; seeks CCI nod for takeover
UltraTech Cement is leading the race to take over Binani Cement by offering around Rs 62 billion and a 20 percent stake in the company to unsecured financial creditors. Dalmia Bharat Cement had made a slightly better...
Insolvency: Binani Industries questions cement arm’s bidding process
Binani Industries, the promoters of Binani Cement, has put a question mark on the insolvency process of the cement company by valuing it at Rs 173 billion (including mining rights of Rs 117 billion) against the bids of...
Binani Industries approaches to NCLT over Binani Cement sale
Binani IndustriesBSE 1.22 % has approached the National Company Law Tribunal (NCLT) seeking permission to participate in the decision making process for the sale of its debt ridden subsidiary Binani CementBSE 0.06 % Ltd...
