August 17, 2018 1:37 am
The counsel for operational creditors also alleged that there had been a great deal of misconduct by the RP.
June 05, 2018 2:42 am
The apex court was hearing an appeal by Dalmia Bharat’s subsidiary, Rajputana Properties (RPPL), against the May 15 order of the National Company Law Appellate Tribunal (NCLAT) that allowed the CoC to consider a revised offer for Binani Cement put forth by UltraTech Cement.
May 31, 2018 1:43 am
The move follows Monday’s meeting, at which CoC voted in absolute majority in favour of the revised resolution plan submitted by UltraTech, which has offered to pay around Rs 7,960 crore for the debt-laden cement maker.
May 29, 2018 2:20 am
This is the second time Binani Industries has attempted to bring Binani Cement out of the purview of the IBC.
May 23, 2018 1:50 am
Binani Cement owes around Rs 6,500 crore to its financial creditors, according to claims admitted by the National Company Law Tribunal (NCLT).
May 16, 2018 1:02 pm
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.
May 16, 2018 12:47 am
The NCLAT also asked the RP to submit his view on questions pertaining to the bidders’ eligibility in conformity with the Insolvency and Bankruptcy Code (IBC) to the CoC, that too in a sealed cover.
May 08, 2018 2:45 am
UltraTech had claimed that the negative points had been wrongly assigned to its bid, making it the H2 and not H1 bidder.
May 03, 2018 2:50 am
The bench, however, offered Dalmia Bharat-controlled Rajputana Properties (RPPL) a chance to better its offer of Rs 6,930 crore.
April 04, 2018 2:46 am
After hearing the submissions, the NCLAT bench allowed the parties in dispute over selling of Binani Cement to amicably settle the matter.