Binani Cements lenders have asked for necessary permissions to be obtained before they proceed with the settlement. Photo: Mint
New Delhi: Binani Cement Ltd moved the Supreme Court on Monday seeking permission for an out-of-court settlement and end insolvency proceedings against it.
The companys lenders have asked for necessary permissions to be obtained before they proceed with the settlement.
The matter was mentioned before a bench headed by chief justice Dipak Misra who said that it will be taken up for hearing on 13 April.
Last week, the committee of creditors (CoC) of Binani Cement had decided to stick with the offer of Rs6,350 crore to buy Dalmia Bharat Cement for the debt-ridden firms sale under the Insolvency and Bankruptcy Code (…
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