Calcutta: The Supreme Court will hear a special leave petition filed by Binani Industries to terminate the ongoing insolvency proceeding against subsidiary Binani Cement on Friday amidst protests from Dalmia Cement Bharat, which strongly objected to the proposed out-of-court settlement.
Binani Industries filed the petition over the weekend, the Calcutta bench of National Company Law Tribunal was told on Monday when the ongoing corporate insolvency resolution process resumed here. Following the disclosure, the hearing in Calcutta was adjourned, as the apex court will take up the matter.
“My client is seeking termination of the insolvency process and it has moved the apex court,” senior advocate Ratn…
Read the full article at: https://www.telegraphindia.com/business/apex-court-binani-call-on-friday-222226
