NCLT asks Binani Cement's CoC to consider UltratTech's revised bid

The Kolkata bench of National Company Law Tribunal (NCLT) on Wednesday directed the committee of creditors (CoC) of Binani Cement to consider the revised bid of UltraTech.

UltraTech's revised bid is Rs 10.21 billion more than that of Dalmia Bharat group's offer.

The NCLT bench also directed the CoC to consider Dalmia Bharat Group's RPPL resolution plan if it matches UltraTech's offer.

The revised bid from UltraTech has to be submitted within three days to the resolution professional to forward the same to the CoC of Binani Cement, it said.

The entire process has to be now concluded before June 24, the NCLT said.