May 16, 2016 new 2016 tvc of binani cement with amitabh bachchan as the brand ambassador. Bloomberg supreme court directs binani cement lenders to. The revised bid from ultratech has to be submitted within three days to the resolution professional to forward the same to the coc of binani cement, it said. Dont finalise binani cement asset sale till further orders. Rajasthan hc allows ultratechs plea against tax dept in binani cements old dues. The company manufactures and markets ordinary portland cement opc and pozzolana portland cement ppc under the binani brand, which enjoys premium status amongst major indian cement brands with a significant market share in northern and western india.
Binani cements committee of creditors coc voted in person to approve ultratechs bid at the meeting on monday, the people said, requesting anonymity. The companys product portfolio includes ordinary portland cement and pozzolana portland cement. Binani rejigs bengal plan, to invest rs 10kcr the times of. Cement requirement in jodhpur jaisalmer and barmer districts. Mar 27, 2018 nclt suggests outofcourt settlement to binani cement, creditors 1.
Ultratech cement announced its intention to take over binani cement on monday, with an offer of inr72. Ultratech cement makes binani its subsidiary the economic times. Binani industries bil on wednesday moved the national company law appellate tribunal nclat offering to clear 100% of the claims of all. Al a4, binani gram, pindwada india rajasthan 307025 bina120121010024 3575 amount for unclaimed and unpaid dividend 508.
The stock is locked in upper circuit of 5% at rs 109 on bse after the media report suggested that ultratech cement sought permission from the cci for the takeover of binani cement. Binani cement was acquired by the aditya birla group cement company through corporate insolvency resolution process cirp in. Binani cement is a global supplier of high quality cement with annual production capacity of 11. Binani cement factory llc bcf, uae company information. Ultratechs chances of winning the battle for bankrupt binani cement suffered a setback after the supreme court on friday refused to allow. Nclt suggests outofcourt settlement to binani cement.
Ultratech cements revised offer was at rs 7,900 crore, against its earlier bid of rs 7,200 crore. The companys subsidiaries include krishna holdings pte limited, muku, dubai bcfllc. Binani industries ltd is an indian business group based in mumbai. The apex court was hearing an appeal by dalmia bharats subsidiary, rajputana properties rppl, against the may 15 order of the national company law appellate tribunal nclat that allowed the coc to consider a revised offer for binani cement put forth by ultratech cement. In february, ultratech and an equal joint venture between dalmia bharat and bainpiramals india resurgence fund had separately bid for binani cement. Apr 20, 2018 binani cement has been undergoing insolvency proceedings initiated by the nclt since july 2017. He has been instrumental in the diversification initiative of the braj binani group into cement, glass fibre, epc and ready mix concrete products. Binani sirohi cement plant details parent category. Binani cement balance sheet, binani cement financial statement. Construction materials in maharashtra,india binani cement. Read more about binani ind up 5% on talks of ultratech closer to acquire binani cement on business standard. A day after the apex court cleared its bid for binani cement, ultratech cement announced that the braj binani group flagship company has become a subsidiary of ultratech. Binani industries ltd bil has received an offer from the aditya birla. Binani cement limited is engaged in the production and sales of cement and clinker based in mumbai, maharashtra, india.
Binani ind up 5% on talks of ultratech closer to acquire. Get binani cement latest balance sheet, financial statements and binani cement detailed profit and loss accounts. Earlier on july 2, the supreme court had transferred all matters related to corporate insolvency resolution process of binani cement to the appellate tribunal from the national company law tribunal, kolkata. The business portfolio of binani industries includes sectors like cement, zinc, glassfiber, and downstream composite products binani industries holds the following subsidiaries. Nclt asks binani cements coc to consider ultratechs revised bid. Supreme court directs binani cement lenders to proceed. Binani cement share price, binani cement stock price. Binani cement limited annual report 201617 36 referred to in paragraph 2 under report on other legal and regulatory requirements in the independent auditors report of even date to the members of binani cement limited on the financial statements for the year ended march 31, 2017 i. In terms of the companys resolution plan approved by the national company law appellate tribunal, the board of. Binani 3b fibreglass is a technology leader producing innovative glass fibre and composite solutions from facilities in europe, india and usa.
Binani cement limitedpetitionersvsunion of india c sca865920 order in the high court of gujarat at. Virtual legal assistant, query alert service and an ad free experience. It is classified as nongovt company and is registered at registrar of companies, kolkata. The binani cements was acquired by the aditya birla groupowned cement company through corporate insolvency resolution process cirp in 2018 for rs 7,900. If you are looking for a job in binani cement factoryl. Binani cement buy binani cement at best price of rs 310bag from shri rang steel supplies. Get uptodate business information, contact details, latest news and press releases and people contacts on zawya mena edition. Binani cement limited, a key leader in the indian cement industry. For binani cement, amitabh bachchan is a big burden the. Bainbacked group is poised to win binani cement stake. The new offer follows dalmia cements claim that its inr63.
The company is certified as iso9001, iso14001 and ohsas18001 compliant. Rajasthan high court allows ultratech plea the economic. Its diversified businesses deliver products and solutions in the areas of cement, glass fibre and related composites, energy and industrial infrastructure. Binani cement takeover battle between ultratech, dalmia. C or just looking for salary information in the company then this site is not for you because we does not provide the information that you are looking for. Binani cement sadiyon ke liye in an all new avatar. Supreme court directs binani cement lenders to proceed with. Jul 03, 20 binani cement sadiyon ke liye in an all new avatar. Feb 27, 2018 an investor group backed by bain capital is poised to win a bid for indias binani cement ltd. The binani cement limited, a flagship subsidiary of the appellant. Braj binani is the chairman of binani industries limited. Cement industry last updated on 16 april 2019 type. Ultratech indias no 1 cement brings to you expert tips and advice to help you at every step in your home building journey, from planning to finishing. Rajasthan high court allows ultratech plea the economic times.
Construction materials in maharashtra,india binani. The race for binani cements has turned into a test case with lawsuits filed at nclt by all key stakeholders the promoter, the highest bidder. Acit bombay high court we note that it is an undisputed position before us that for the subject assessment year, the appellant assessee had not claimed benefit of section 80ia of the act in respect of its jetty port either before the assessing officer or before the cita. Binani cement limited subsidiary of binani industries limited marketing offices. Jan 16, 2018 parth jindal, managing director of jsw cement recently said binani cement was a big asset with 11mt capacity and rs 3,800 crore debt, which could go up to rs 4,500 crore with contingent liabilities. Ultratech nathdwara cement limited company, directors and. The board of binani cement has also been reconstituted, ultratech told the stock exchange on tuesday. Under his visionary leadership, the company aggressively began to explore new horizons and grow very rapidly. Advertising consultancy audit education hotels restaurants property cstruction retail travel. May 17, 2018 binani industries bil on wednesday moved the national company law appellate tribunal nclat offering to clear 100% of the claims of all creditors within two weeks if its subsidiary binani.
New 2016 tvc of binani cement with amitabh bachchan as the brand ambassador. Chhataarpur india madhya pradesh 471001 bina120316000023 9424 amount for unclaimed and unpaid dividend 500. New delhi, dec aditya birla group firm ultratech cement on thursday said it has changed the name of binani cement to ultratech nathdwara cement ltd after acquiring the debtridden company. Deals in manufacturers of ordinary portland cement, pozzolona portland cement, ground granulated blastfurnace slag,maharashtra,india support. Binani cement news latest binani cement news, information. Binanigram, pindwada, dist sirohi, rajasthan 307025 advisors mr. Binani cement share price, binani cement stock price, binani. Binani cement is the flagship company of the braj binani group. Parth jindal, managing director of jsw cement recently said binani cement was a big asset with 11mt capacity and rs 3,800 crore debt, which. In a major relief for ultratech cement, the rajasthan high court has struck down the demand raised by the goods and services tax gst department against the company for unpaid dues of binani cement. The genesis of the dispute lies in several tax notices issued by the gst department of rajasthan for the dues of around rs 72 crore between february to june 2019 for the unpaid dues of binani cement. Binani industries files application to terminate insolvency. Check for a complete historical background of binani industries ltd. Binani cement has been undergoing insolvency proceedings initiated by the nclt since july 2017.
Ultratech cement s revised offer was at rs 7,900 crore, against its earlier bid of rs 7,200 crore. Ultratech nathdwara cement limited is a public incorporated on 15 january 1996. Binani cement manufacturer from ahmedabad, india about us. Binani cement share price, binani cement stock price, binani cement ltd. Bcl the company binani cement limited board board of directors of the company or committee constituted for the purpose of the buyback buyback offerbuyback offer the offer by binani cement limited to buy back of 1,45,00,000 equity shares of the face value rs. Nclt suggests outofcourt settlement to binani cement, creditors 1. Binani cement ltd is the flagship subsidiary of bil, the braj binani group with 6. Rajasthan hc allows ultratechs plea against tax dept in. The new offer follows dalmia cement s claim that its inr63.
Nov 20, 2018 a day after the apex court cleared its bid for binani cement, ultratech cement announced that the braj binani group flagship company has become a subsidiary of ultratech. Over the same period, profits before interest, depreciation and tax advanced by. Binani cement limited was admitted under insolvency and bankruptcy code 2016 as per the nclat order dated 14112018, binani cement limited became wholly own subsidiary of ultratech cement limited. May 02, 2018 the revised bid from ultratech has to be submitted within three days to the resolution professional to forward the same to the coc of binani cement, it said. An investor group backed by bain capital is poised to win a bid for indias binani cement ltd. For binani cement, amitabh bachchan is a big burden.383 976 689 40 219 846 1308 161 649 1235 427 289 950 188 1409 541 692 655 1414 567 532 233 160 602 488 1554 376 1154 97 336 1265 496 483 1409