UltraTech’s revised bid for Binani Cement gets NCLAT approval

Construction workers working with cement. Photo: Pixabay

In a landmark decision, India’s bankruptcy appeals court ruled that the insolvency resolution process should aim to extract the maximum value from auctions of stressed assets as it approved UltraTech Cement Ltd’s revised Rs 7,900 crore bid to acquire debt-laden Binani Cement Ltd.

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