 "Binani cement")
The Committee of Creditors (CoC) of Binani Cement on Monday voted in favour of UltraTech’s Rs 79.60 billion offer.
All 100 per cent votes were cast in UltraTech’s favour since the Aditya Birla Group firm, in its proposal, agreed to take care of all the legitimate claims of all stakeholders, said sources who attended the meeting.
Binani Cement is undergoing insolvency proceedings.
The CoC will issue a Letter of Intent to UltraTech on Tuesday and has informed the resolution professional about its decision. The plan will be sent to the Kolkata Bench of the National Company Law Tribunal (NCLT) for its approval on
