Tata and Adani will go head-to-head for a third time in the hard-fought contest for South East UP Power Transmission Company.
Adani offering 100% recovery of loans of ₹3,700 crore to the lenders
in the previous round and Adani's bid was only marginally lower at the time.
Tata's bid was set aside because it was conditional. Tata and Adani had first submitted bids in August and then on October 30, while the final round of bids is now due at the end of January.
Tata has requested lenders to consider a Swiss challenge on grounds that it was the highest bidder.
Vedanta group company Sterlite Power, Power Grid Corporation of India and REC PDCL were among other companies that also participated in the previous bidding round.
Adani and South East UP Power Transmission company's resolution professional, Shailesh Verma did not respond to queries.
