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News National Company Law Tribunal approves Dalmia Bharat’s offer for Mulri Industries with conditions

National Company Law Tribunal approves Dalmia Bharat’s offer for Mulri Industries with conditions

Written by Global Cement staff 10 July 2019
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India: The National Company Law Tribunal (NCLT) in Mumbai has approved Dalmia Bharat’s offer for debt-laden Murli Industries, subject to conditions intended to stop the company going into liquidation. The tribunal has given Dalmia Bharat until 12 July 2019 to decide if it wants to proceed, according to the Economic Times newspaper. The conditions include forcing the buyer to reinstate lapsed mining leases related to Murli Industries itself and removing clauses allowing Dalmia Bharat to modify or withdraw its plans at any stage. Dalmia Bharat bid around US$60m to buy Murli Industries’ 3Mt/yr cement plant in Maharashtra in late 2017.

Published in Global Cement News
Tagged under
  • India
  • National Company Law Tribunal
  • Dalmia Bharat
  • Acquisition
  • Bid
  • Murli Industries
  • Plant
  • Maharashtra
  • GCW413
  • Licence
  • Mining
  • Quarry
  • Liquidation
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