Exim moves NCLT for value maximisation from Binani's resolution process

Exim Bank, one of the unsecured lenders to bankrupt Binani Cement, has moved a petition in the Kolkata bench of the National Company Law Tribunal (NCLT), seeking to maximise value for itself from the resolution process.

Sources said the Dalmia Bharat Cement-led consortium’s proposal would help pay the bank only Rs 4.5 billion and another Rs 1.7 billion would be left out, resulting in a haircut.

Dalmia Bharat Cement-Bain Capital’s Resurgent India Fund’s resolution plan makes up for full repayment of all financial creditors, except Exim Bank and SBI Hong Kong, according to the sources. During the committee of creditors’ (CoC's) voting