Binani Cement lenders get 1 week to decide on UltraTech's revised offer
Binani Cement lenders could not consider UltraTech's proposal because the interim order asking them to do so wasn't available on NCLT's website02-04-2018
02-04-2018
Competition Regulator Approves UltraTech's Bid For Binani Cement
The bidding process for Binani Cement was overseen by NCLT.28-03-2018
Binani Cement's MSME creditors form forum to fight for rights
Move may throw a spanner in UltraTech's plans to acquire company's stressed assets25-03-2018
Defer Binani Cement's resolution process, Braj Binani group tells NCLT
The Braj Binani group has argued that UltraTech Cement has offered a better deal than Dalmia Bharat for Binani Cement, and that in the interest of a more optimal solution, the resolution provess should be suspended23-03-2018
Clarification Of News
We have not been served a copy of the application dated 13th March, 2018 as stated in the newspaper report. No sooner the application i.e. served upon us we shall deal with the same. The question of any fraud committed by the company or by the members of the Board of Directors of the company does not and cannot arise as all the accounts of the company and the holding companies are fully audited and all the transactions including the related party transaction have been disclosed....21-03-2018
Clarification sought from Binani Industries Ltd
The Exchange has sought clarification from Binani Industries Ltd with respect to news article appearing in Business Standard - March 21, 2018 titled "Resolution professional alleges fraud by Binani Cement promoters".The reply is awaited.21-03-2018
Birla treats bankruptcy law with disdain, but here's why it's good
Birla treats bankruptcy law with disdain, but here's why it's goodAditya Birla Group firm has stumped lenders by proposing to buy promoters' stake in Binani through a deal outside the bankruptcy process. That may be no bad thing.20-03-2018
Sub: Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
The Board of Directors of the Company met today March 19, 2018 and have decided that the Company should apply to the National Company Law Tribunal to terminate the insolvency proceedings commenced against the subsidiary of the Company, Binani Cement Ltd. In order to terminate the IBC proceedings, Binani Cement Ltd will be required to pay off the lenders debts and other liabilities as admitted in the IBC proceedings. To add credibility to its...19-03-2018
UltraTech Cement to pick up 98% stake in Binani Cements
UltraTech Cement signs an in-principle agreement with Binani Industries to pick up 98.43% stake in Binani Cements, subject to termination of insolvency proceedings19-03-2018
Binani Industries steps up pleas against its cement unit resolution
Binani Cement may file a fresh petition against the CoC for accepting the resolution plan of Dalmia Bharat Cement16-03-2018