IBC was not enacted to punish promoters’, Binani tells Supreme Court

Varun Marwah April 10 2018
Swachh Nyayalaya

The holding company of Binani Cements, Binani Industries, has now taken the Ultratech matter to the Supreme Court, in its attempt to terminate the resolution process initiated under the Insolvency and Bankruptcy Code, 2016 (IBC).

Binani Industries has moved to the Supreme Court by the way of an appeal  filed under Section 62 of the IBC, against an NCLAT order dated April 5, 2018.

Brief factual background

Binani Cement went into . . .

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