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PTI
March 27, 2018



PTI
March 23, 2018



BusinessToday.In
March 23, 2018
Judging by recent developments in the insolvency journey of Binani Cement, one may think that go-ahead from a stressed asset's Committee of Creditors (CoC) does not mean much. But Tata Steel might have better luck in its attempt to acquire the debt-laden Bhushan Steel Ltd under the Insolvency and Bankruptcy Code.


PTI
March 22, 2018



PTI
New Delhi, March 22, 2018
UltraTech has announced to acquire BCL by providing Rs 7,266 crore toits parent company Binani Industries Ltd (BIL) against bid of Rs 6,350crore along with 20 per cent equity in BCL by Rajputana Properties, apart of Dalmia Bharat group, approved by the resolution professional.


Mail Today Bureau
March 22, 2018
Numetal and ArcelorMittal, the only two bidders for Essar Steel, were found to be ineligible under Section 29 A of the amended IBC which bars promoters of defaulting firms and also related parties from buying out stressed assets being put up for auction to recover bad loans of banks.


PTI
March 21, 2018



Nevin John
New Delhi, March 20, 2018
In another case, UK-based Liberty House challenged the decision of the Insolvency Resolution Professional (IRP), who rejected its bid to acquire Bhushan Power and Steel without opening its sealed offer.


PTI
March 20, 2018
In the twists that started Monday morning, Ultratech gave a \"comfort letter\" to Binani Cements earlier this morning offering Rs 7,266 crore for a 98.43 per cent stake, which will bail the crippled company out. The offer is contingent on the resolution case moving out of the NCLT.


Mail Today Bureau
March 20, 2018
The move comes just days after rival Dalmia Cement said its Rs 6,350 crore bid to buy Binani Cements Ltd (BCL) has been accepted by the lenders.


BusinessToday.In
New Delhi, March 19, 2018
In a regulatory filing on Monday, Binani Industries Ltd (BIL) board decided to move the National Company Law Tribunal (NCLT) to terminate the insolvency proceedings commenced against its subsidiary BCL.


BusinessToday.in
New Delhi, March 19, 2018
Binani Cement's journey towards insolvency resolution can be summed up as one step forward, two new speed-breakers ahead.


PTI
March 16, 2018



PTI
March 16, 2018



PTI
March 15, 2018



BusinessToday.In
New Delhi, March 15, 2018
The Dalmia Bharat-Bain Piramal Resurgence Fund consortium moved a step closer towards acquiring Binani Cement.


PTI
March 9, 2018



Nevin John
New Delhi, March 8, 2018
The creditors have chosen Tata Steel and UK-based Liberty House for running the bankrupt companies Bhushan Steel and Amtek Auto, respectively.


PTI
March 8, 2018



PTI
March 8, 2018



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