India: Dalmia Bharat is the frontrunner to buy Kalyanpur Cement following an auction for the Bihar-based cement producer. The bidding process follows a debt resolution plan for Kalyanpur Cement, according to the Economic Times. Dalmia Bharat’s winning bid has been submitted by the creditors to the Kolkata bench of the National Company Law Tribunal for approval.
Kalyanpur Cement owes more than US$94m to its creditors and its was declared bankrupt in May 2017. It operates a 1Mt/yr cement plant at Banjari.