Aditya Birla Group's UltraTech Cement likely to get support from Binani creditors
UltraTech had said that Binani Industries Ltd (BIL) - the promoter firm of BCL - had approached it for arranging funds to pay off the lenders. "As a creditor, we support the UltraTech offer as it offers a better deal for us," an official from a lead creditor told PTI
A revised bid for Binani Cement after the CoC approval is perhaps a first instance and legal opinions remain divided on its sanity. Image source: Reuters