In an interesting development in the bid to acquire Binani Cement, the UltraTech Cement board has approved funds worth Rs 7,266 crore to Binani Cement’s parent company to pay lenders and other liabilities. Last week UltraTech Cement had alleged lack of transparency in the NCLT proceedings to auction Binani Cement. In a setback for the Aditya Birla Group company, the committee of creditors had approved the plan presented by Dalmia cement to acquire Binani Cement.

In an interview with CNBC-TV18, Sameer Kaji, Senior Advisor of Binani Industries, spoke about the latest developments in the bid to acquire Binani Cement.

For full interview, watch accompanying video...

First Published:Mar 19, 2018 12:49 PM IST