As per the 'clarification to bidders' document issued by investment banking major SBI Capital Markets (SBI Cap), the last date for EoI submission has been extended from 6 p.m. on Wednesday to 6 p.m. on Friday (April 12).
While no reason for the extension was provided, industry insiders cited a "poor response" to the EoI as the main reason.
The consortium of banks have appointed SBI Caps to take out the EoI and conduct the process of their stake sale in the airline.
According to the document, the last date for submission of queries has also been extended to April 11.
"While all soft copies of the EOIs are required to submitted by the due date, the hard copies may be submitted by April 16, 2019," the document said.
The lenders have offered a stake from 31.2 to 75 per cent of the company on a fully diluted basis.
Currently, the airline owes Rs 8,000 crore to lenders, led by the SBI. On March 25, Goyal had stepped down from the board of the airline and ceded majority control to the SBI-led consortium.
The development comes a day after debt-ridden airline was served a legal notice from a section of its pilots demanding payment of salaries, due from January 1, by April 14.
Subsequently, the airline's CEO Vinay Dube said the company continues to work with lenders on the balance sheet restructuring plan and will inform the employees about the progress of the process by early next week.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)