Explanation:

Dalmia Bharat (DBL) has received the approval of National Company Law Tribunal (NCLT) to acquire Patna-based Kalyanpur Cement with a capacity of 1MTPA. DBL has outbid the other players interested in acquiring the company like JSW Cement, JK Lakshmi Cement and Star Cement. The concerned resolution is expected to of more than Rs350cr.Operational creditor Naresh Kumar & Company brought Kalyanpur Cement to the bankruptcy court in May 2017. The company owes Rs600cr to the banks and operational creditors, as per the media sources. Since 2014, post the cancellation of lease of main operative limestone mine that fed Kalyanpur’s production was canceled and not renewed by the government of Bihar, the company began its downward spiral. Production for the company fell from an average level of ~7 lakh TPA to 2.23 lakh TPA in FY17. The company reported a loss of Rs95cr for FY17.