INSUBCONTINENT EXCLUSIVE:
MUMABAI: Bank of Baroda has sold its Rs 410 crore loans in Binani Cement to Edelweiss Asset Reconstruction Company in a reflection of the
involves a structured transaction where the lender would receive a portion of the profits if the ARC is able to recover more than what it
being opposed by Dalmia Bharat on grounds that they had offered more than UltraTech.
Dalmia Bharat emerged the highest bidder with Rs 6,582
crore offer which was approved by 99.5 per cent of lenders, but this was challenged by UltraTech at bankruptcy court on grounds that the
bidding process was not transparent and went on to raise the bid to Rs 7,600 crore.
