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."
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.
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