Dalmia Bharat alleges information leakage in Binani Cement bidding process

Dalmia Bharat Cement claimed that UltraTech Cement revised its bid as there was a leak; in turn, UltraTech Cement hits back

At a time when the Kolkata bench of NCLT is pulling up the lenders of Binani Cement, questioning them on why they didn’t consider the revised offer from UltraTech Cement, which is monetarily superior to that of Dalmia Bharat Cement, the latter alleged that there has been leakage of information to UltraTech Cement, which led it to increase its bid amount.

During the hearing on allegations brought up by Exim bank, which claimed that the Dalmia Bharat Cement consortium’s offer discriminates repayment to the lenders, S. K. Kapoor, the legal counsel representing the H1 bidder in the tribunal, alleged that