more-inBillionaire Sajjan Jindal-led JSW Steel is keen on revising its bid for his brother-in-law Sandeep Jajodia-led Monnet Ispat and Energy, after the lead banker SBI opposed Mr. Jindal’s bid to buy the firm. However, Mr. Jindal is not very interested in acquiring JSPL power unit, led by his brother Naveen Jindal for which he signed a deal last year, as the power sector is still struggling. Without PPAs, we can’t take that.”Mr. Jindal is also not enthused with Tata Power’s offer to sell 51% Equity in 4,000 MW Mundra UMPP equity for ₹1. “Even if they give debt at ₹1, it will be difficult to run the plant beacuse of coal. They signed at such a low price when the power sector itself is completely collapsed.”

Source: The Hindu July 13, 2017 15:56 UTC