Gaurav Choudhury Moneycontrol News
In a recent development, UltraTech Cement raised its offer to buy Binani Cement to Rs 7,990 crore.
The Binani Cement case has turned out to be a test of India’s recently implemented Insolvency and Bankruptcy Code (IBC).
It all started with Binani Cement entering bankruptcy proceedings under the IBC. As per the proceedings, Dalmia Cement won the bid for the sale of Binani Cement.
But UltraTech offered to beat the Binani Cement bid subject to ending the insolvency proceedings against BCL.
According to legal experts, withdrawal of insolvency proceedings at an advanced stage could be an attempt to subvert the process.
Watch the video where Sakshi Batra is in conversation with Moneycontrol Economy Editor Gaurav Choudhury to understand the whole case and how could it change fortunes of the Bankruptcy Code…
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
