The Aditya Birla groups UltraTech Cement moved the National Company Law Tribunal (NCLT) in Kolkata on Tuesday against the resolution professional for Binani Cement after its bid for the cement company undergoing insolvency proceedings was rejected. The Kumar Mangalam Birla company had earlier served a notice to the resolution professional asking for details on the weight given to its bid as compared to the winning bid by a consortium consisting of Dalmia Bharat and Bain Capitals India Resurgent Fund and Piramal Enterprises. A source close to UltraTech told Business Standard that barring a single-line email that its bid was rejected, UltraTech did not receive any communication from the re…
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