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Now no banker would think of outside settlement: Mahendra Singhi, Dalmia Bharat

The Supreme Court’s referral back to the National Company Law Tribunal in the closely contested Binani Cement resolution has come as a boost for the original winning bidders. They believe that this reference by the highest court in India has set the correct precedent for the still nascent Insolvency and Bankruptcy regime. “What we understand is that the Supreme Court has said that there should not be any termination of the IBC process and there can’t be any outside settlement,” said an elated Mahendra Singhi, CEO of Dalmia Bharat Group.

Source : ET Realty