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".
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.
Hyderabad Police Commissioner plans for Celebration of Ganesh Chathurthi festival Hyderabad sources reported that Hyderabad City Police Commissioner Anjani Kumar warned anti-social elements of taking advantage of the upcoming Ganesh Chathurthi celebrations and indulge in extortion. Meanwhile he said such anti-social elements will be firmly dealt with under law. Ganesh Chathurthi festivities will commence in the twin cities on September 2 and go on till September 12.
- What did Saudi Crown Prince spoke to Imran Khan about Kashmir issue?
- Priyanka Gandhi speaks up in support of Chidambaram
- Vietnamese Bikini Airline comes to India from December - Ticket prices from Rs.9
- Why Jayalalitha's Niece wants her party to merge with AIADMK?
- Chidambaram's anticipatory bail to be reviewed by SC on Friday
- School prank turned tragic in AP
- Usha Financial Services accelerating 25 fintechs in India to boost digital lending
- SC Judge refers Chidambaram case to CJI - No relief to Chidambaram!
- Kerala Doctors warns people of Fungal Infections after floods
- Why Pawan investing Crores in a Bungalow than on something?
- Facebook and Twitter shuts state backed Chinese accounts
- Chidambaram faces prosecution on Indrani and Peter Statements
- Ola hits milestone of 10,000 destinations last weekend with an interesting customer report
- GAIL plans for expansion of Pipelines & City Gas Network
- 1,000 Indian restaurants decided to pull out of membership and restaurant reservation apps