In a notification to the Bombay Stock Exchange, Binani Industries Limited (BIL) has said that it has filed an application under Section 60(5) of the Insolvency and Bankruptcy Code 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016 seeking permission to fully participate in the Insolvency Resolution Process of the Corporate Debtor viz. Binani Cement Limited (BCL) a subsidiary of BIL.
Source: Application submitted by Binani Industries Ltd to NCLT
The company had mentioned in the application that, this is to ensure that the resolution process adequately protects and preserves the rights and interests of the Corporate Debtor, all its stakeholders including the Applicant. The application was filed with National Company Law …
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