Binani Cement

SC upholds NCLAT order allowing UltraTech to acquire Binani Cement, rejects Dalmia Bharat group firm’s plea

The Supreme Court upheld the NCLAT's last week order which had allowed the Aditya Birla group firm to acquire Binani Cement by approving its revised Rs 7,950.34 crore bid.

NCLAT approves UltraTech's Rs 7,900 cr bid for Binani Cement, rejects resolution plan submitted by Dalmia Bharat

In approving UltraTech's resolution plan for Binani, which was auctioned to recover unpaid bank dues, the NCLAT may have set a precedence as it favoured a proposal that not just paid the financial lenders but also operational creditors.

Kumar Mangalam Birla says all is not rosy for economy, warns of near-term headwinds

Birla said rising oil prices, spiralling inflation, firming bond yields and a widening current account deficit are areas of concern

Binani Cement insolvency: Supreme Court says CoC can consider revised Ultratech offer but can't take final decision

Refusing to debar Binani Cement's CoC from carrying on with further proceedings, the court said that "no final order may be passed"

Binani Cement lenders vote in favour of UltraTech's Rs 7,960 cr offer; override CoC decision favouring Dalmia Bharat

UltraTech now becomes the H1 bidder, replacing Rajputana Properties - the bidding company for the Dalmia Bharat-led consortium

Ultra Tech to acquire Century Textiles and Industries' cement business through share swap deal

Aditya Birla Group firm UltraTech said it would acquire cement business of BK Birla Group company Century Textiles and Industries through a share swap deal

Binani Industries offers to settle all claims of bankrupt cement subsidiary's debtors at NCLAT within two weeks

NCLAT had on Tuesday directed RP of Binani Cement not to decide on the eligibility of the bidders, but just to pass on the revised resolution plans in sealed covers to the CoC.

NCLAT directs RP to give comments only on revised bids of Binani Cement

The NCLAT made the remarks while hearing an application filed by UltraTech in the Binani Cement insolvency matter.

Binani Cement insolvency: NCLT asks CoC to consider UltraTech's revised offer; Dalmia 'surprised' by order

The NCLT bench also asked the CoC to reconsider resolution plan of Rajputana Properties Pvt Ltd (RRPL), if the Dalmia Bharat Group firm, was willing to raise its offer more than UltraTech's bid.

UltraTech questions resolution process, terms process of evaluating bids for Binani Cement 'fraudulent'

UltraTech apprehends that it was not declared as the H1 bidder in view of the penalty imposed by the Competition Commission of India.