Insolvency: NCLT verdict on UltraTech Cement proposal likely by July 10

However, SC's approval needed for takeover

The Kolkata bench of the National Company Law Tribunal (NCLT) is expected to pass its verdict on UltraTech Cement’s plan before July 10 for acquiring the stressed assets of Binani Cement just before the “daily hearing in this case” commences at the National Company Law Appellate Tribunal (NCLAT).

The NCLT, however, refused Dalmia Bharat’s plea on taking a look at the resolution plan of UltraTech, which has been submitted for the tribunal’s approval. During a hearing on the status update in the case, a two-member bench comprising Jinan KR and Madan Gosavi, members – judicial, at the Kolkata bench of