Creditor's panel to take call on Dalmia's Binani Cement resolution plan

The CoC has to take up Dalmia Bharat Cement's resolution plan for voting.

Despite UltraTech Cement raising its bid to Rs. 69 billion to outmatch the one quoted jointly by Dalmia Bharat Cement and Bain Capital's Resurgent India Fund of Rs. 67 billion in the quest to acquire Binani Cement, the former's resolution plan is poised to be placed before the Committee of Creditors (CoC) for voting early next week.

A source aware of these developments said, "Usually, it is seen that if the CoC voting is in favour of the resolution plan, it approaches the NCLT for final approval in 2-3 days" adding that once a bidder is selected by the CoC, any