Calcutta: The corporate insolvency resolution process initiated against bankrupt Binani Cement is set to miss the 270-day deadline stipulated under the Insolvency & Bankruptcy Code, 2016 as challenges thrown at the resolution plan from several quarters, including UltraTech Cement, continue to be heard by the Calcutta bench of the National Company Law Tribunal.
Judicial members of the bench fixed a hearing on Monday and suggested further audience in the days to come even as the deadline comes to an end on Saturday.
The members asked the resolution professional for Binani Cement to continue to manage the company and extended protection from creditors.
Though members did not clarify further, le…
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