Vidarbha Industries’ lenders to conduct auction by September-end

Lenders of Vidarbha Industries Power on Wednesday decided to hold an auction to sell the debt of the Anil Ambani-promoted power company before the end of September, said people aware of the meeting.

At the meeting, lenders evaluated three offers – a one-time settlement from the promoter company Reliance Power, and two separate offers from CFM Asset Reconstruction Company (ARC) and government-promoted National Asset Reconstruction Company (NARCL), the people said.