Binani sale: SC won't interfere, pushes Dalmia Bharat's plea back to NCLAT

A source close to Dalmia Bharat explained that the Supreme Court ruling on Thursday on its appeal hasn't closed the door for it for further appeal

The Supreme Court on Thursday showed for the second time its disinclination to intervene in the Binani Cement takeover case. Although it disposed of the plea by Dalmia Bharat for overriding the National Company Law Tribunal’s (NCLT’s) order, it asked the National Company Law Appellate Tribunal (NCLAT) to expedite hearing on Dalmia Bharat’s plea without adjournment.

Noting that Dalmia Bharat’s allegations were pending before the NCLAT, Justice Rohinton Nariman and Justice A M Sapre sent the case back to the NCLAT, and directed the tribunal to hear the case on a daily basis from May 22.

A source close to Dalmia Bharat