Reliance to bid for Videocon's oil assets

Reliance Industries Ltd (RIL) is planning to make a bid for Videocon's oil assets after the lenders called for fresh bids for them. If RIL succeeds in acquiring them, it will be its another big-ticket acquisition under the Insolvency and Bankruptcy Code (IBC), 2016, after it won the race for Alok Industries, a textile firm, and Reliance Communications' telecom tower assets.