Binani Cement sale: UltraTech offer splits creditors; resentment rises over Dalmia Bharat bid
The company had earlier emerged as the second highest bidder for the Braj Binani group’s cement asset. With the new offer now coming in from UltraTech, there is growing resentment at the Dalmia Bharat’s bid, which was earlier cleared as the highest by the Committee of Creditors. A Dalmia Bharat official, however, told DNA Money that rebidding is out of the question
Exim Bank, one of Binani’s financial unsecured creditors, has claimed before the National Company Law Tribunal (NCLT) on Monday that they preferred UltraTech over Dalmia Bharat. Image source: PTI