Dalmia Bharat was declared the highest bidder for Binani Cement by the committee of creditors (CoC) in March beating UltraTech, which bid marginally lower. Photo: HTMumbai: Dalmia Bharat Cement Ltd will approach a higher court if the Kolkata bench of National Company Law Tribunal (NCLT) decides against it in the battle for Binani Cement acquisition, a top company official said. While Dalmia continues to repose faith in the ongoing legal process, it will challenge any move to wrest control of Binani Cement Ltd by rival UltraTech Cement Ltd, the Dalmia Bharat official said on condition of anonymity. Dalmia Bharat was declared the highest bidder for Binani Cement by the committee of creditors (CoC) in March beating UltraTech, which bid marginally lower. Singhi, however, said that Dalmia Bharat is not keen on an out-of-court settlement.

Source: Mint April 01, 2018 21:22 UTC