Gold Silver Reports (GSR) – Binani Industries Withdraws Insolvency Petition From Top Court – Shares of Binani Industries fell sharply after it withdrew plea for insolvency settlement of its cement unit from the Supreme Court, Bloomberg reported. Binani Industries said that it will argue about debt settlement plea at NCLT.
Gold Silver Reports (GSR Team) – Binani Industries Offers Full Debt Repayment To Binani Cements Lenders — Shares of Binani Industries rose as much as 5.7 percent to Rs 92.25 after the National Companies Law Appellate Tribunal has granted liberty to Binani Cement wherein lenders can settle insolvency proceedings out of court.
Gold Silver Reports (GSR) – Binani Industries Falls After NCLAT Rejects Contempt Plea — Shares of the Mumbai-based cement and zinc maker fell as much as 4.7 percent to Rs 84.35 after the National Companies Law Appellate Tribunal (NCLAT) rejected Binani Industries’ contempt plea against the Resolution Professional.
Gold Silver Reports (GSR) – Binani Industries Gains After UltraTech Signs Pact — Shares of the Binani Cement’s parent was locked in upper circuit. UltraTech Cement, yesterday, agreed to issue a letter of comfort for its increased bid to the cement maker’s lenders for termination of insolvency proceedings at the Kolkata bench of the NCLT, according to its exchange filing.
Gold Silver Reports (GSR) – Binani Industries Falls As UltraTech To Issue Rs 7,270 Crore Comfort Letter To Buy Cement Unit — Shares of the Mumbai-based cement maker fell as much as 3.7 percent to Rs 94.50 after UltraTech board agreed to consider Binani Industries’ request to issue the comfort …
Gold Silver Reports (GSR) – Binani Industries Gains On Reports Of Dalmia’s Winning Bid For Cement Unit — Shares of Mumbai-based company were locked in a 5 percent upper circuit at Rs 101.65 after most creditors of its cement unit, which is being sold under the country’s insolvency process, will support the bid by an investor group backed by Bain Capital, people with knowledge of the matter said.