Dec 14, 2018 02:17 PM IST
The bank can not receive money from UltraTech Cement or remit it to its Dubai branch without RBI’s permission
- Nov 26, 2018 08:20 PM IST
Shares of IFCI settled at Rs 13.71 per scrip, up 0.81 percent, on the BSE.
- Nov 21, 2018 09:21 PM IST
The National Company Law Appellate Tribunal (NCLAT) last week had approved the revised bid of Aditya Birla group firm UltraTech Cement for debt-ridden Binani Cement.
- Nov 19, 2018 06:18 PM IST
The NCLAT had approved UltraTech's resolution plan for Binani and rejected the resolution plan submitted by Dalmia Bharat's Rajputana Properties by terming it "discriminatory" and "unbalanced".
- Nov 14, 2018 11:25 AM IST
UltraTech Cement's revised offer was at Rs 7,900 crore, against its earlier bid of Rs 7,200 crore.
- May 10, 2018 11:13 AM IST
Dalmia has alleged that UltraTech bid, which the lenders were to consider, is ineligible under Section 29A
- Apr 20, 2018 06:06 PM IST
The Binani Cement case has turned out to be a test of India’s recently implemented Insolvency and Bankruptcy Code
- Apr 16, 2018 12:13 PM IST
UltraTech had earlier lost out to a Dalmia Bharat-led consortium in bidding for Binani.
- Apr 10, 2018 07:25 PM IST
The company has alleged that despite binding contracts, some members of the Committee of Creditors (CoC) were trying to go for settlement with promoters of Binani Industries in violation of Insolvency and Bankruptcy Code (IBC) and general principles of the rules of law.
- Apr 06, 2018 06:22 PM IST
"The operational creditors (OCs) dues, in reality, are over Rs 700 crore. The total amount due to the OCs has been wrongly verified by the resolution professionals (RP) as Rs 503.37 crore of which Dalmia offers to pay just Rs 151 crore," Binani Operational Creditors Forum (BOCF) spokesperson Siddharth Tibrewal said in a statement here.
- Apr 05, 2018 07:57 PM IST
Binani Industries Ltd (BIL) has received an offer from the Aditya Birla group firm UltraTech to transfer its 98.43 percent stake in BCL for Rs 7,266 crore.
- Apr 03, 2018 07:35 PM IST
A meeting of the Committee of Creditors has been called on April 4 to consider the NCLT order, CoC sources said.
- Mar 27, 2018 03:29 PM IST
Binani Industries will use the funds to pay off Binani Cement's creditors, including the unsecured ones.
- Mar 22, 2018 10:22 PM IST
"All the details are in the data room. The fraud is nothing to do with the sale. If the offer is proper, the tribunal can consider it," a counsel on behalf of the CoC said before the NCLT, according to a source close to one of the bidders.
- Mar 22, 2018 12:16 PM IST
UltraTech Cement CFO Atul Daga added that the company is "committed to honour" the amount which it has offered.
- Mar 21, 2018 08:53 PM IST
The Resolution professional (RP) Vijaykumar V Iyer has moved the National Company Law Tribunal (NCLT), alleging suspect and fraudulent transactions in Binani carried out by an independent forensic auditor.
- Mar 21, 2018 05:18 PM IST
The IBC resolution process has been very efficient and transparent, said Mahendra Singhi, Group CEO-Cement, Dalmia Bharat.
- Mar 21, 2018 07:48 AM IST
Binani Cement's resolution professional alleged that the promoters diverted funds that affected the company's working capital provisions.
- Mar 20, 2018 09:40 PM IST
Besides, the group has also submitted a performance bank guarantee (PBG) of 10 per cent of upfront payment of its offer to the financial creditors of BCL, Dalmia Bharat Ltd said in an update filed to the exchanges.
- Mar 20, 2018 04:17 PM IST
UltraTech had said that Binani Industries Ltd (BIL) - the promoter firm of BCL - had approached it for arranging funds to pay off the lenders.
- Mar 19, 2018 02:06 PM IST
The move is intended to block lenders decision to hand over Binani to Dalmia Bharat
- Mar 15, 2018 10:45 AM IST
The Dalmia Bharat Cement is set to acquire Binani Cement as the consortium has received final approval from the Committee of Creditors (CoC) to acquire the firm for Rs 6,700 crore, which includes a capital infusion of Rs 400 crore
- Dec 20, 2017 10:38 AM IST
The resolution process of Bhushan Power & Steel Limited, Electrosteel Steels, Essar Steel and Monnet Steel is likely to complete only in the first quarter FY19, according to a report.
- Jan 17, 2017 07:42 PM IST
Compat has dismissed the appeal of Binani Cement seeking waiver of the direction to deposit with it 10 percent of the total penalty amount which was imposed by Competition Commission in a cartelisation case.
- May 17, 2013 06:43 PM IST
The Rs 6300 crore fine imposed by the Competition Commission of India has been approved by the Competition Apellate Tribunal. Cement companies will now have to pay the fine within a month.