Modis Offer Rs 90 A Share To Fis On Staggered Payment

A solution to the Modi Rubber imbroglio might finally emerge with the Modi brothers, Vinay Kumar and Bhupendra Kumar, offering to buy out the 44 per cent stake held by the financial institutions in the company at Rs 90 per share, albeit on a staggered payment basis.

Institutional sources said that at a previous meeting of the heads of institutions, it was decided that the FIs would sell their stake to the Modis only at Rs 90 per share