NCLAT directs RP to give comments only on revised bids of Binani Cement

NCLAT directs RP to give comments only on revised bids of Binani Cement
16/05/2018 , by , in ALLIED

The NCLAT today directed the resolution professional (RP) of Binani Cement not to decide over the eligibility of the revised bids but only submit its comments to the lenders.

The National Company Law Appellate Tribunal (NCLAT) made the remarks while hearing an application filed by UltraTech in the Binani Cement insolvency matter.

An NCLAT bench headed by Justice S.J Mukhopadhyaya directed that RP would only hand over its comments over questions pertaining to conformity with the Insolvency and Bankruptcy Code (IBC) on the revised bids to Committee of Creditors (CoC).

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