Jindal Power has decided not to go ahead with its plan to bid for Go First, which is undergoing an insolvency resolution process, according to industry sources.
Budget carrier Go First stopped flying in early May and filed for voluntary bankruptcy proceedings amid financial woes, mainly triggered by engine issues.
Last month, Jindal Power had put in an Expressioncof Interest (EoI) for the bankrupt airline. It was submitted to get details about the valuation of the assets and documents.
