Vedanta chairman Anil Agarwal's Volcan Investments shows interest in Jet Airways

The Expression of Interest will be examined by resolution professional Ashish Chhawchharia to verify their eligibility.

Published: 11th August 2019 10:04 PM  |   Last Updated: 11th August 2019 11:41 PM   |  A+A-

Vedanta chairman Anil Agarwal

Vedanta chairman Anil Agarwal


NEW DELHI: Volcan Investments, the family trust of Vedanta chairman Anil Agarwal, has shown interest to invest in the now grounded Jet Airways and has submitted an Expression of Interest (EoI) for the debt-ridden airline.

"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".

The EoIs will be examined by resolution professional Ashish Chhawchharia to verify their eligibility. The final bids are to be submitted by September 12.

The last date for submission of expression of interest (EoI) was August 10.

Of the three entities that submitted EoIs, two are financial players and another is Panama-based fund Avantulo Group, PTI had reported on Saturday.

Etihad Airways, which holds 24 per cent stake in Jet Airways, did not submit the bid.

(With inputs from PTI)

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