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...
NCLT Kolkata bench orders Binani lenders to consider UltraTech plan
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...
