Exim Bank, an unsecured lender to the bankrupt Binani Cement, on Monday alleged discrimination between same class of unsecured creditors.

In its petition before the Kolkata bench of National Company Law Tribunal (NCLT), Exim Bank also alleged that despite its requisition to the Resolution Professional (RP) about the revised bid of Ultratech, the RP did not ask the Committee of Creditors to consider the revised bid in its meeting on March 14.

The CoC had, in its meeting on March 14, approved the resolution plan of Dalmia Bharat Cement-Bain Capital’s Resurgent India Fund.

According to the Exim Bank counsel, going by Dalmia Bharat’s resolution plan, the bank is likely to receive a haircut of close to ₹170 crore. However, IDBI Bank, another unsecured creditor, is getting ‘fully paid’.

“The plan (resolution plan) discriminates between same class of unsecured creditors,” the Exim Bank counsel said.

Exim Bank had therefore voted in favour of the plan ‘under protest’, he added.

According to sources, the proposed resolution plan of Dalmia Bharat accounts for full repayment of all financial creditors, except Exim Bank and SBI Hong Kong.

The two-member Kolkata bench will hear the matter on April 17. The tribunal, on Monday, reserved order on all petitions except two — one on Exim Bank’s application and the second on the approval or rejection of Dalmia’s resolution plan.

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