Dalmia Bharat prepares its battle-plan for Friday as Binani Cement moves SC

Sources suggest that the Dalmia Bharat counsel is likely to touch upon these issues on Friday

Dalmia Bharat, which was chosen by the creditors under the Insolvency and Bankruptcy Code (IBC) to take over Binani Cement, is preparing to disrupt the debt-laden company’s promoter Binani Industries’ move to the Supreme Court for an out-of-court settlement with lenders.  

Dalmia Bharat has filed a caveat with the Supreme Court so that proceedings do not take place without its knowledge or an ex-partie order is not issued.

Mahendra Singhi, chief executive officer, Dalmia Bharat, said an out-of-court settlement with the lenders would jeopardise India’s global ranking in ease of doing business. He asked: “How can the lenders settle their