Resolution Professional allows representation of Binani's operational creditors

The Resolution Professional of the Binani Committee of Creditors (CoC) has allowed representation of the operational creditors of Binani Cement, despite no provision of the same under existing norms.

Operational creditors are allowed if their exposure is at least 10 per cent of the debt, which is not the case for Binani Cement.

"Giving regard to the spirit of the May 2 direction of the Kolkata bench of the NCLT, the operational creditors who have filed applications before the NCLT are invited to appoint a representative who will attend the 16th CoC meeting," the RP's notice for the meeting said.