In a victory for UltraTech Cement Ltd, the Supreme Court on Monday upheld an order of the National Company Law Appellate Tribunal (NCLAT) approving its revised ₹7,900 crore bid to buy debt-laden Binani Cement Ltd. While...
NCLAT Approves UltraTech’s Revised Bid of 7,950 crore for Binani Cement
The National Company Law Appellate Tribunal ( NCLAT) on Wednesday approved UltraTech’s revised bid of ₹7,950 crore for debt-laden Binani Cement, calling Dalmia Bharat’s offer for the asset “discriminatory” against...
Ultratech gets CCI nod to acquire Century cement business
Aditya Birla Group firm UltraTech today said it has received an approval from the fair trade regulator Competition Commission for the acquisition of the cement business of Century Textiles and Industries. The company...
UltraTech Cement plans to raise Rs 9,000 crore
UltraTech CementNSE 2.05 % is planning to raise Rs 9,000 crore via an issue of redeemable, non-convertible debentures on a private placement basis, the company said on Friday, while notifying the exchange NSE 0.00 % of...
Binani Cement’s acquisition can make UltraTech market leader in north India
Acquisition of Binani Cement, subject to approval, is poised to make UltraTech Cement the market leader in the north Indian cement market overtaking the current market leader Shree Cement. According to sector analysts...
UltraTech acquires Century Textiles’ cement business
The Board of Directors of Century Textiles and Industries Limited (Century) had approved a Scheme of Arrangement between the Century, UltraTech Cement Limited (UltraTech), and their shareholders and creditors for the...
Insolvency: NCLT verdict on UltraTech Cement proposal likely by July 10
The Kolkata bench of the National Company Law Tribunal (NCLT) is expected to pass its verdict on UltraTech Cement’s plan before July 10 for acquiring the stressed assets of Binani Cement just before the “daily hearing...
Insolvency: UltraTech keeps options open for Binani Cement takeover
UltraTech Cement is keeping its options open regarding Binani Cement’s stressed assets, on other than the legal insolvency process. This is despite it becoming the new H1 bidder under the law’s framework, replacing the...
Insolvency: Binani Cement submits UltraTech plan for NCLT approval
After the resolution professional (RP) of Binani Cement submitted the resolution plan of UltraTech Cement’s Rs 79.60 billion offer for approval from the Kolkata bench of the NCLT on Friday, Dalmia Bharat Cement also...
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...