Binani Industries to Move Supreme Court with Rs 7,618 Cr Offer

Binani Industries has decided to move the Supreme Court with an appeal to redeem the pledge of its assets in debt ridden subsidiary Binani Cements Ltd from its lenders and will also submit 10 per cent of the offer to prove its commitment, a company official said.

"We are moving the Supreme Court for sure. We have assurance of support from most of the lenders for this move," a Binani group spokesman mentioned.