News digest: PNB fraud, Vikram Kothari arrested, Bond yields jump, and more 

Rs 114-bn fraud: Submit concrete plan to pay dues, PNB tells Nirav ModiPunjab National Bank on Thursday told Nirav Modi, one of the prime accused in the Rs 114 billion letters of undertaking (LoUs) fraud, to submit “a concrete and implementable plan” to clear his liabilities.
 Read More...UltraTech Cement closer to acquiring Binani; seeks CCI nod for takeoverUltraTech Cement is leading the race to take over Binani Cement by offering around Rs 62 billion and a 20 per cent stake in the company to unsecured financial creditors.
Dalmia Bharat Cement had made a slightly better offer at Rs 63 billion, but is likely to lose as UltraTech has offered equity stake to creditors. Read More...Rs 37-bn loan default case: CBI arrests Rotomac owner Vikram Kothari, sonThe CBI on Thursday arrested Rotomac owner Vikram Kothari and his son Rahul, both directors in the company, for alleged default on loan repayments to the tune of Rs 37 billion, officials said here. 
Read More...India's 10-year bond yields hit two-year high on hawkish RBI minutesTen-year bond yields spiked 10 basis points (bps) after minutes of the February 5-6 meeting of the Monetary Policy Committee were revealed by its members on Wednesday. Read More...






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