The takeover war for Binani CementBSE 0.06 % between Dalmia Bharat group and UltraTechBSE -0.51 % declines to ease as both the bidders remain unperturbed despite the revelation of alleged fraud on the stressed asset...
What explains UltraTech’s desperation to buy Binani Cement
A tug of war between UltraTech Cement Ltd and Dalmia Bharat Ltd over the acquisition of Binani Cement Ltd’s assets has intensified. In the latest twist, UltraTech Cement has offered to pay Rs7,266 crore to acquire...
Resolution plan for Binani Cement submitted to NCLT: Dalmia Bharat Group
Dalmia Bharat Group today said its Rs 6,350 crore bid for the debt-ridden Binani CementBSE 0.06 % (BCL) has been submitted by the resolution professional (RP) before the National Company Law Tribunal (NCLT) for approval...
Bankruptcy case: UltraTech to pay Rs 73 bn for 98% stake in Binani Cement
It was a day of high drama in the Binani Cement bankruptcy case with promoter Binani Industries entering into an agreement to sell the cement company’s shares to UltraTech Cement, even as the National Company Law...
Binani Industries steps up pleas against its cement unit resolution
Binani Industries will be moving a contempt application against the resolution professional (RP) and his assistant in the Delhi Bench of the National Company Law Appellate Tribunal (NCLAT), alleging non-compliance to a...
Consolidation will help cement makers tackle excess supply: JK Cement chief
Consolidation will help set right the supply overhang in the cement industry where profitability and capacity utilisation have remained subdued, Yadupati Singhania, chairman of JK CementBSE -0.62 %, told ET...
Dalmia Bharat set to buy Binani Cement; Ultra Tech likely to challenge deal
After a series of controversies, the consortium led by Dalmia Bharat Cement has received final approval from the Committee of Creditors (CoC) of Binani Cement to acquire the firm for Rs 67 billion, which includes a...
Kolkata’s NCLT bench pulls up Binani Cement’s resolution professional
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...
