'Jindal's interest in Go First may not lead to a bid'

While Jindal Power, owned by billionaire Naveen Jindal has submitted expression of interest for Go First, it may not result in a bid for acquiring the grounded airline, two people familiar with the matter told Mint.

- Mihir Mishra

Go First, the low-cost airline formerly owned by the Wadia family, was the first commercial airline in India to voluntarily seek bankruptcy protection.

"As part of the IBC process, interested companies can't access financials and other details of a company under insolvency without expressing interest. Once Eol is approved, the interested company is allowed to access the data after payment of a fee, which is refundable. This bid is only to explore the potential of the company and the industry," one of the two people said.