Friday, January 18, 2019

Posted at: May 17, 2018, 12:54 AM; last updated: May 17, 2018, 12:54 AM (IST)

Binani offers to pay claims of creditors

New Delhi: Binani Industries, which holds 98.4% stake in debt-ridden Binani Cement, on Wednesday offered to clear the 100% claims of creditors at the  NCLAT. In a fresh petition filed before the NCLAT, it submitted that the offer will clear the dues of financial creditors, operational creditors and others within two weeks. The counsel appearing for Binani Industries said the settling of the creditors’ claims will bring the company out of insolvency proceedings. The NCLAT Bench headed by Chairman Justice SJ Mulhopadhaya has asked the Committee of Creditors (CoC), Resolution Professional to file their reply within five days. PTI


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