Binani Cement

Binani Cement News

Binani Cement creditors allege ‘misconduct’ by resolution professional

The counsel for operational creditors also alleged that there had been a great deal of misconduct by the RP.

Don’t finalise Binani Cement asset sale till further orders: Supreme Court

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.

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UltraTech gets LoI from Binani lenders

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.

Binani Cement lenders votes in favour of UltraTech proposal

This is the second time Binani Industries has attempted to bring Binani Cement out of the purview of the IBC.

Binani bids: NCLAT rejects Dalmia plea

Binani Cement owes around Rs 6,500 crore to its financial creditors, according to claims admitted by the National Company Law Tribunal (NCLT).

Binani Industries offers to pay 100% claims of debtors

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.

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Give comments only on revised bids of Binani: NCLAT

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.

UltraTech Cement’s revised bid: Binani CoC meet likely tomorrow

UltraTech had claimed that the negative points had been wrongly assigned to its bid, making it the H2 and not H1 bidder.

Race for Binani Cement: Consider UltraTech’s new bid, NCLT to CoC

The bench, however, offered Dalmia Bharat-controlled Rajputana Properties (RPPL) a chance to better its offer of Rs 6,930 crore.

Binani Cement: NCLAT calls for ‘amicable’ settlement

After hearing the submissions, the NCLAT bench allowed the parties in dispute over selling of Binani Cement to amicably settle the matter.

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