This marks a key milestone in one of the longest-running corporate insolvency proceedings of the country.
The five bidders in fray are billionaire Anil Agarwal’s Vedanta Ltd, billionaire Gautam Adani-led Adani Enterprises, billionaire Naveen Jindal-backed Jindal Power Ltd, Puneet Dalmia’s Dalmia Bharat and PNC Infratech Ltd.
“There are more processes to be followed and approvals to be taken before any acquisition is finalized,” said the first of the two persons cited earlier, both of whom spoke on the condition of anonymity.
The lenders are expected to seek proof of funds or a letter of comfort from the winning…