Mar 28, 2018 08:55 AM IST
The fight is to the finish when it comes to the fight and the acquisition of Binani Cement. The only large Insolvency and Bankruptcy Code (IBC) case with an equity value has been hotly contested for and now the matter is also getting litigated. Dalmia Bharat has been the winner and that has been declared the winner by CoC and RP but that matter has been challenged by Ultratech Cement, which after the bid closure has increased the bid price by Rs 700 crore to Rs 7,266 crore and even has supported Binani Industries if they can take the matter out of insolvency proceedings.
- Mar 20, 2018 03:18 PM IST
UltraTech Cement has re-entered the race for Binani Cement and has proposed to acquire the stressed company. They have lent huge comfort by saying that they will provide Rs 7,200 crore to help Binani pay off its lenders.
- Aug 31, 2016 08:28 PM IST
Competition Commission today imposed more than Rs 6,700 crore penalty on 11 cement companies, including ACC and Binani, for cartelisation.
- Dec 27, 2012 12:30 PM IST
Vinod Juneja, MD of Braj Binani Group told CNBC-TV18, the company is interested in becoming an international player and the stake sale would be in line with that objective.