NCLAT to start day-to-day hearing of Binani Cement case from Aug 1

NCLAT to start day-to-day hearing of Binani Cement case from Aug 1
21/07/2018 , by , in ALLIED

The NCLAT on Friday started its hearing over the fate of debt-ridden BinaniCements, which has received bids from UltraTech and Dalmia Bharat Group.

The National Company Law Appellate Tribunal (NCLAT) directed the matter to be listed on August 1, from when it would start day-to-day hearings on the cross petitions filed by Dalmia Bharat Group firm Rajputana Properties and the country’s largest cement maker UltraTech.

Earlier on July 2, the Supreme Court had transferred all matters related to corporate insolvency resolution process of Binani Cement to the appellate tribunal from the National Company Law Tribunal, Kolkata.

The apex court had directed NCLAT to hear the case on a day-to-day basis.

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