While the presence of Indian manufacturing companies in China is relatively small, UltraTech's operation was one of the biggest manufacturing footprints in China for an Indian firm

Ultratech Cement's consolidated PAT increased to Rs 1,013 crore in Q4 FY19 versus Rs 446 crore in the same quarter a year ago; EBITDA rose to Rs 2,459 crore as compared to Rs 1,892 crore in FY18

Good for creditors because Ultratechs bid price is Rs 1,019 crore higher than Dalmia Bharats Rs 6,932 crore.

A two-member bench of NCLAT, headed by Chairman Justice S J Mukhopadhaya, approved UltraTech's resolution plan

The Supreme Court today restrained finalisation of sale of assets of Binani Cement Ltd without its prior approval but allowed the debt resolution process to go on. The apex court also said that further proceedings will be subject to its orders.

The stage now seems set for another protracted battle. Atul Daga, chief financial officer, UltraTech Cement, says his company has already approached the RP to hold a CoC meet as early as possible to \"close\" the insolvency resolution process as Dalmia Bharat's allegations were \"baseless\".

The protracted battle to acquire Binani Cement is set for another showdown. The Kolkata bench of the National Company Law Tribunal (NCLT) on Wednesday asked the committee of creditors (CoC) of Binani Cement to evaluate a revised offer by UltraTech Cement Ltd.

Days after Supreme Court refused to allow out-of-court deal for debt-laden Binani Industries, Aditya Birla Group's UltraTech Cement has sweetened its offer by another Rs 700 crore to Rs 7,990 crore.

UltraTech's board had earlier agreed to issue a 'comfort letter' to provide the above-mentioned amount in return for 98.43 per cent stake in Binani Cement provided the company came out of insolvency proceedings.