Binani Cement sale: UltraTech back in the race after hiccup
UltraTech’s revised bid needs to be submitted within three days to the resolution professional for consideration of the Committee of Creditors (CoC) and the whole process, which might involve getting fresh bid from Dalmia, has to be completed by June 24, about two months extension from the statutory 270-days deadline for insolvency resolution.
Debt-laden Binani Cement will see bidding war start all over again. Image source: Reuters