Dalmia Cement is confident that its Rs 6,350-crore offer to buy Binani Cements Ltd (BCL) will be approved by the NCLT on the back of NCLAT directions to proceed the insolvency resolution as per the IBC, according to a top company official.
Last week, the Committee of Creditors (CoC) of Binani Cement had decided to stick with the offer from Dalmia Bharat Cement for the debt-ridden firm’s sale under the Insolvency and Bankruptcy Code (IBC).
Moreover, the National Company Law Appellate Tribunal (NCLAT) had also asked the adjudicating authority, which is National Company Law Tribunal (NCLT), to proceed with the resolution process of Binani Cement as per the IBC.
“As far as we are concerned, we have a clear cut direction from NCLAT to do…
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