Mapping insolvency: UltraTech may shell out over Rs 79 bn for Binani Cement

Both UltraTech and Dalmia Bharat, as well as Binani Cement's promoters, were likely to drag the case to the Supreme Court for a final verdict

With Binani Cement’s insolvency resolution process overshooting the 270-day time frame by nearly two months, UltraTech Cement’s final acquisition cost may surpass its offer of Rs 79.60 billion for the cement firm, mainly due to the increasing number of cases and mounting interest costs.

UltraTech is the highest bidder for Binani Cement.

According to a legal counsel in the National Company Law Tribunal (NCLT), the Aditya Birla Group firm is liable to pay lenders Rs 15 million per day as additional interest till the final takeover of the company. In addition, under UltraTech’s offer, none of the creditors is taking