The other key arguments Dalmia has made in the affidavit are…
– UltraTech’s second resolution plan was submitted after the final submission date set out by the resolution professional. By then Dalmia had already been selected as the winning bidder.
– Two plans cannot be submitted by an applicant as per clauses laid down in the process document issued by the resolution professional on Dec. 20.
– The evaluation matrix stipulating general and quantitative parameters and was shared by the resolution professional with all bidders. One of the criteria is regulatory compliance and whether any adverse regulatory order has been passed against the applicant.
– The right to set criteria to determine a winning bid or resolution plan is the excl…
Read the full article at: https://www.bloombergquint.com/business/2018/03/21/dalmia-bharat-affidavit-says-ultratech-binani-agreement-is-illegal