RP not running transparent process: KK Maheshwari, MD, UltraTech

Fraud allegation report was not given to the bidders in the data room, and this has certainly come as a big surprise to us, he said.

UltraTech Cement, an Aditya Birla Group company, has put its might behind its Rs 72.66-billion bid for Binani Cement, Rs 7 billion higher than Dalmia Bharat’s offer. KK Maheshwari, managing director, UltraTech, who led the effort to acquire Jaiprakash Associates’ cement assets earlier, tells Dev Chatterjee in an interview that the company’s offer is a win-win deal for all. Edited excerpts.

Were you aware of the allegations of fraud against the promoters of Binani Cement, levelled by the resolution professional in the National Company Law Tribunal (NCLT)?

We were not aware of this forensic report. This report was not given