India's NCLAT rules UltraTech's bid for Binani Cement valid - TV channels

BIL Vyapar

14/11/2018 05:53

Nov 14 (Reuters) - An Indian tribunal has ruled that
UltraTech Cement Ltd's  ULTC.NS  $1.1 billion bid for Binani
Industries Ltd's  BINZ.NS  cement unit was valid, TV channels
reported on Wednesday.
    The National Company Law Appellate Tribunal (NCLAT)
dismissed Dalmia Bharat Ltd's  DALA.NS  plea, saying its offer
for Binani Cement was discriminatory against financial and
operational creditors, CNBC-TV18 reported.

 (Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu
Sahu)
 ((chris.thomas@thomsonreuters.com; +91-80-6749-8695; Reuters
Messaging: chris.thomas.thomsonreuters.com@reuters.net))