Dalmia Bharat have asked lenders and the resolution professional of Binani Cement to reveal details of UltraTech’s resolution plan, reported The Economic Times.

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Dalmia in a letter asked for the details to examine various aspects of the bid proposed by UltraTech, said the report.

The company has also asked lenders to give in writing their decision regarding the disqualification of UltraTech, added the report.

It also requested for more time to take a decision on the revised bid, reported the daily.

Dalmia's request came after the company did not submit a revised plan for Binani even after it was asked to do so by the CoC (Committee of Creditors) following last week’s meeting, the report said.

Dalmia Bharat, which made the bidding through Rajputana Properties Private Limited said in the letter addressed to RP Vijaykumar V Iyer and the CoC that a resolution plan is not just a payment figure.

"In absence of the complete resolution plan of UltraTech, RPPL cannot examine the various assumptions, the scheme and the revival proposal that form the basis of UltraTech’s offer and cannot conceivably take a decision regarding UltraTech’s resolution plan," stated the letter as per the report.

First Published:May 24, 2018 10:24 AM IST