QUOTE AND NEWS
The Economic Times  Apr 9  Comment 
The banks have extended support to UltraTech’s bid, seeking indemnity from Binani Industries against any potential litigation by a consortium led by Dalmia Bharat.
The Economic Times  Apr 5  Comment 
Binani Industries Ltd (BIL) has received an offer from the Aditya Birla group firm UltraTech to transfer its 98.43 per cent stake in BCL for Rs 7,266 crore.
The Economic Times  Apr 4  Comment 
Bankers also decided that they will be asking UltraTech to pay a deposit of Rs 750 crore as a proof of its commitment toward the deal.
The Economic Times  Apr 4  Comment 
Binani Industries had moved the NCLAT against the resolution professional of Binani Cement, alleging that its order was not followed while declaring a successful plan for the struggling cement maker.
The Hindu Business Line  Apr 3  Comment 
Binani offers to clear ₹7,200-cr debt; to meet lenders today to push out-of-court merger with UltraTech
The Economic Times  Apr 2  Comment 
According to the agreement between Binani Industries and UltraTech, the former would sell its 98.43% shareholding in the cement business to the Aditya Birla Group company for Rs 7,266 crore.
The Hindu Business Line  Mar 28  Comment 
But highest bidder Dalmia Cement confident of executing the deal
The Economic Times  Mar 21  Comment 
UltraTech has announced to acquire BCL by providing Rs 7,266 crore to its parent company Binani Industries against bid of Rs 6,350 cr along with 20% equity in BCL by Rajputana Properties.
The Economic Times  Mar 21  Comment 
The Resolution professional (RP) Vijaykumar V Iyer has moved the National Company Law Tribunal (NCLT), alleging suspect and fraudulent transactions in Binani carried out by an independent forensic auditor.
Reuters  Mar 20  Comment 
Top Indian cement maker UltraTech said on Tuesday it had secured backing from some creditors of Binani Cement to buy the firm for $1.1 billion outside of a bankruptcy process, a move that is testing India's new insolvency proceedings.





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