Shareholders of troubled Cement Maker Athi River Mining Company will have to wait longer to know the fate of the company as Businessman Jaswant Rai heads back to court on Monday.
Directors and majority shareholders of the now suspended NSE listed firm had accused the Administrator PwC of undervaluing the firm’s assets and accepting a bid by Devki Group owned National Cement and rejecting a higher bid of businessman Jaswant Rai.
This comes just a few days after the courts threw out a plea by former owner Pradeep Punrama with regards to similar accusations.
ADVERTISEMENT
