April 13 a crucial day for Binani Cement lenders
"April 13 will be a crucial day for us," a Binani Cement lender, who did not wish to be quoted, said. Binani Industries will be seeking redemption of the pledge of assets in the debt-ridden Binani Cement, a move supported by its lenders. A Binani spokesperson had said that they have lenders' support on the move.
Binani Industries has been trying for a Rs 7,618 crore out-of-court settlement with the lenders with UltraTech's financial backing in lieu of 98.43 per cent stake in Binani Cement. Image source: Reuters