India’s Supreme Court recently upheld a lower tribunal’s verdict approving UltraTech Cement’s $1.1 billion offer for indebted Binani Cement Ltd. UltraTech had lost out initially to a bid from a Bain Capital Credit-backed consortium, only to return with an upgraded proposal that was challenged as being late and made once the details of the rival offer were known. Lawyers in India offer their views on what this could mean.

J Sagar Associates has acted for India’s Reliance Infrastructure on the 188-billion-rupee ($2.65 billion) sale of its Mumbai power generation, transmission and distribution business to a unit of Adani Enterprises, which was represented by Cyril Amarchand Mangaldas