Displaying items by tag: GCW584

India: A court has dismissed Shraddha Binani's petition against summons by the Ministry of Corporate Affairs' Serious Fraud Investigation Office in its investigation of alleged related party transactions by the former Binani Cement. Mint News has reported that 'huge funds' from the company's related parties entered Binani's bank account, beginning in 2010.

Under corporate insolvency resolution proceedings, Binani Cement underwent acquisition by Aditya Birla subsidiary UltraTech Cement, becoming UltraTech Nathdwara Cement, in 2018.

Azerbaijan: Azeri cement producers recorded 2.98Mt in total cement production volumes during the first 10 months of 2022. The figure represents growth by a factor of more than two from 1.46Mt in the corresponding period of 2021. As of 1 November 2022, producers had stores of 96,400t of cement in reserve.

During the same period, ready-mix concrete production also more than doubled to 1.15Mm³, while precast concrete elements production rose by 63% year-on-year to 40,800m³.