A panel of two-member judges had extended the deadline for the CoC of bankrupt Binani Cement till April 9, to consider a proposal mooted by the Binani promoters for an out-of-court settlement and end NCLT proceedings.
"We cannot say anything now. We are reviewing all the aspects," a senior Binani official said.
Binani's offer is worth Rs 72.26 billion and promises to cover all secured and unsecured creditors without any haircut in the settlement.
The CoC had earlier issued a letter of intent to Dalmia Bharat Cement-led consortium, which emerged as the H1 bidder and applied to NCLT for the final nod.
Dalmia Bharat Cement CEO Mahendra Singhi is of the view that once resolution plan is submitted to the NCLT, there is a binding contract with CoC and the party, and thus an out-of-court settlement was not possible.