Dalmia Cement subsidiary and GurantCo settle claims

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Guwahati: Dalmia Cement (Bharat) subsidiary, Calcom, and GuarantCo, a financial creditor, have settled all claims and counter claims amicably, a statement from Dalmia Bharat Group said.

The out-of-tribunal settlement followed an order from the Guwahati bench of the National Company Law Tribunal (NCLT), which had given its approval to start insolvency proceedings against Calcom Cement, admitting the petition filed by GuarantCo.

However, according to the settlement, the parties shall not claim any dispute against each other relating to the petition. Sources said, the settlement amount was under Rs 100 crore. The parties are taking steps for completion of formalities for withdrawal of the petition before the NCLT, Guwahati.

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