NCLAT nod to UltraTech’s Binani Cement bid sets precedent3 min read . Updated: 14 Nov 2018, 09:44 PM IST
NCLAT?s decision in the UltraTech-Binani Cement case can have a bearing on the Essar Steel case, where lenders have chosen ArcelorMittal as the highest bidder
Mumbai: In a landmark decision, India’s bankruptcy appeals court ruled that the insolvency resolution process should aim to extract the maximum value from auctions of stressed assets as it approved UltraTech Cement Ltd’s revised ₹ 7,900 crore bid to acquire debt-laden Binani Cement Ltd.
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