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Luthra acts on insolvency resolution of $1.16bn Binani Cement sale to Ultratech

In a landmark decision, India’s bankruptcy appeals court ruled that the insolvency resolution process should aim to extract the maximum value from auctions of stressed assets as it approved UltraTech Cement Ltd’s revised ₹ 7,900 crore bid to acquire debt-laden Binani Cement Ltd.

L&L Partners advised resolution professional of Binani Cement in the insolvency, led by a team of partner Bikash Jhawar, and lawyers Avinash Subramanian, Nakul Sachdeva, Aakarshan Sahay, Prateek Mishra and Swetha Shankaran.


Deal value: USD 1.16 billion

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

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