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Adani Properties, Jindal Power in race for Videocon ops

Times of India  

Gautam Adani's Adani Properties and Naveen Jindal's Jindal Power have shown interest in the bankrupt Videocon Group's consumer durables business and a dozen other units. The two entered the race after Videocon's financial creditors invited offers for the asset for the second time. They had restarted the bidding process on the direction of the National Company Law Appellate Tribunal (NCLAT), which had set aside the winning proposal of Anil Agarwal's Vedanta Group for Videocon's assets. Adani and Jindal are interested in Videocon's real estate and other assets. It has over 400 acres of land parcels across the country, of which more than half (230 acres) is in Aurangabad, its manufacturing hub in Maharashtra.