Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
Wed, Aug 21, 2019 | Last Updated 7:53 pm IST

Menu &Sections

Search

Vedanta Chairman Anil Agarwal, has shown interest to invest in now grounded Jet Airways

Vedanta Chairman Anil Agarwal, has shown interest to invest in now grounded Jet Airways
Vedanta Chairman Anil Agarwal, has shown interest to invest in now grounded Jet Airways
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Reportedly "Volcan Investments, Investment Company for Anil Agarwal, in an exploratory move, has sought an EoI for Jet Airways, to understand the business scenario for the company and the industry," the trust said in a statement on Sunday. It, however, added that the EoI is in "no way linked to Vedanta".

Vedanta Chairman Anil Agarwal, has shown interest to invest in now grounded Jet Airways

Meanwhile EoI is more of a way for Anil Agarwal to understand the aviation industry and the airline and that no final decisions have been made. Furthermore the same report quotes instances where Agarwal has taken risks to pull off acquisitions of distressed companies and turned them around. Cairn india, Hindustan Zinc and Balco are some of the examples. Perhaps the EoIs will be examined by resolution professional Ashish Chhawchharia to verify their eligibility. The final bids are to be submitted by September 12.



Hence apart from Volcan, panama-based fund Avantulo Group and a Russian firm have also sent in their EoIs as per several media reports. Moreover EoI don’t necessarily mean that that these companies have bid for the airline yet and it determines the level of interest there is in the airline. Accordingly lenders are expecting these three firms to put in bids after the deadline was extended to accommodate more EoIs and the deadline for submitting EoIs was August 10.

 


Vedanta Chairman Anil Agarwal, has shown interest to invest in now grounded Jet Airways
5/ 5 - (1 votes)
Add To Favourite
More from author
Hyderabad Police Commissioner plans for Celebration of Ganesh Chathurthi festival
Sreesanth eligible for selection in Indian cricket team from September 2020
What did Saudi Crown Prince spoke to Imran Khan about Kashmir issue?
Priyanka Gandhi speaks up in support of Chidambaram
Why Jayalalitha's Niece wants her party to merge with AIADMK?
Chidambaram's anticipatory bail to be reviewed by SC on Friday
Kerala Doctors warns people of Fungal Infections after floods
Kapil Dev announced Ravi Shastri as Head Coach of India cricket until T20
Indefinite strike from August 21 by TN Private Water Tankers Association
Zomato partnered with FarEye, fastest growing digital logistics companies
75th Birth Anniversary of Rajiv Gandhi celebrated at his Memorial today
PM Modi's visit to Bahrain will be first ever Prime Ministerial visit from India
CM YS Jagan's speech at Dallas inspires Many
Why Mike Tyson spends in Weeds every month?
SBI planning to float an initial public offer for its credit card subsidiary, SBI Cards
Telangana Revenue Department perceived as one of the most corrupt in the state
What is the reality behind owning a home in Kashmir valley?
Karnataka received 279% more than normal rainfall
Paytm looking to increase user engagement on the app
PM Narendra Modi gives assurance for the growth of Auto sector
Karnataka in need of more Central Aid for flood relief
Vistara benefited after closure of Jet Airways
Congress never revoked Article 370 in the greed of vote bank: Amit Shah
BJP MPs Son taken to Police Station for drunken driving
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.