Dalmia Bharat Group said its Rs 6,350 crore bid for the debt ridden Binani Cement (BCL) has been submitted by the resolution professional (RP) before the National Company Law Tribunal (NCLT) for approval, as per a PTI report.
However, there were reports that the resolution professional (RP) was hinting at a possible fraud in the books of Binani Cement, on which NCLT will be conducting a hearing tomorrow.
Mahendra Singhi, Group CEO-Cement, Dalmia Bharat in an interview to CNBC-TV18 explained the resolution process and said they were happy at being declared the highest bidder for Binani Cement.
“The IBC resolution process has been very efficient and transparent”, he said.