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Former chairman Naresh Goyal may submit initial bids for stake in Jet

The bidding norms allow Goyal to participate in the sale process.

Press Trust of India  |  Mumbai 

Naresh Goyal
Former Jet Airways chairman Naresh Goyal is likely to submit initial bids for stake in the airline on Thursday, sources said.

Former is likely to submit initial bids for stake in the on Thursday, sources said.

Caps, which invited Expression of Interest (EoI) for stake sale in on April 8, has already extended the date for submission of bids to April 12 from April 10 earlier.

Caps has the mandate for Jet Airways' sale on behalf of the SBI-led consortium of domestic lenders to the debt-ridden private carrier.

It has put between 31 per cent and up to 75 per cent in the for investors.

"is expected to submit initial bids for sale today (Thursday)," a source close to said.

The bidding norms allow Goyal to participate in the sale process.

Goyal's response on the issue was awaited.

last month said, "It could be financial investor, it could be .. including Goyal himself or Etihad. Nobody is barred from bidding or taking over the airline as per the rule."

Naresh Goyal, the of Jet Airways, and his wife last month stepped down from the board of the ailing airline, ceding majority control to the consortium, following reduction in their stake as per the resolution plan formulated by the lenders.

The airline currently owes Rs 8,000 crore to lenders, led by the SBI.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, April 11 2019. 13:05 IST
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