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Dalmia Bharat has proposed a plan to buy Kalyanpur Cement, based in Bihar, in a bid worth Rs.353 crore.
In a BSE filing the company stated, “Committee of Creditors (CoC) of Kalyanpur Cements (KCL) approved the proposed Resolution Plan (RP) for revival of KCL, submitted by our subsidiary Dalmia Cement (Bharat).”
Committee of Creditors has recommended the proposed plan to the National Company Law Tribunal (NCLT) for its approval. Further, the company stated that, after the required approvals are received the RP will provide for a payment of Rs.353 crore.
