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Adani, Ambani set to clash over distressed assets of Lanco Amarkantak Power

The direct clash between the two major industrialist groups is set to happen during an auction on November 25

Ambani, Adani
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Mukesh Ambani and Gautam Adani

BS Web Team New Delhi
A clash is brewing between the Mukesh Ambani-led Reliance Industries and Adani Power, owned by fellow billionaire Gautam Adani, to buy the assets of Lanco Amarkantak Power, according to a report in The Economic Times.

The direct clash between the two major industrialist groups is set to happen during an auction of the assets of the distressed thermal power firm undergoing corporate insolvency. The auction is scheduled to take place on November 25.

Citing three people aware of the development, the report said a consortium of Power Finance Corp and REC Ltd, both state-owned, will also participate in the bidding

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First Published: Nov 23 2022 | 1:13 PM IST

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