Outstanding claims for operational creditors is Rs 700cr: Binani Creditors Forum

As the battle for Binani Cement continues between Dalmia Bharat and UltraTech Cement, the operational creditors have now staked their claim of Rs 700 crore which is supposedly not included in the current offers.

In an interview to CNBC-TV18, Sidharth Tibrewal, Senior Committee Member of the Binani Creditors Forum discussed it in details.

Tibrewal said that the total outstanding claims for operational creditors is Rs 700 crore.

“As we understand the total repayment by either Dalmia or UltraTech is 30 percent of those claims,” he said.

He further said that the claims have been outstanding for one-and-a-half year now.

According to him, the law has been misinterpreted by the resolution professional.

Talking about the case registered with NCLT, he said we have a hearing today and total 14 petitions have been filed in the case of Binani Cement.

For entire interview, watch accompanying video.