Moneycontrol Be a Pro
Get App
Last Updated : Aug 12, 2019 08:01 AM IST | Source: Moneycontrol.com

Anil Agarwal's family trust in the race for Jet Airways

Apart from Volcan, Panama-based investment company, Avantulo Group, and Russian Fund Treasury RA Creator have shown interest

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Volcan Investments, the family trust of Vedanta Chairman Anil Agarwal, has put in an Expression of Interest for Jet Airways, giving a somewhat subdued bidding process a fresh leash of life.

"Volcan Investment, 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," said the trust.

It added: "This EOI is in no way linked to Vedanta."

Close

Volcan's is one of the three EoIs that Jet Airways has got. The deadline to submit the EoI was August 10.

Apart from Volcan, Panama-based investment company, Avantulo Group, and Russian Fund Treasury RA Creator have shown interest, said CNBC-TV18.

Jet Airways had suspended operations in April, after a severe cash crunch. It has financial liabilities of more than Rs 25,000 crore.

Etihad Airways and Hinduja Group, who were earlier the only interested party when the bidding was done, have stayed away from the process.

Later, the lenders took Jet Airways to the insolvency courts.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Aug 11, 2019 09:15 pm
Loading...
Sections
Follow us on
Available On