Anil Agarwal's Vedanta sole bidder for Videocon's 25% in Ravva oil block

Anil Agarwal-led Vedanta is the sole bidder for Videocon’s 25 per cent stake in the Ravva oil and gas field located in the shallow offshore area of the Krishna-Godavari basin on the eastern coast of India. 

Videocon is undergoing insolvency proceedings at the NCLT with a separate bidding process being undertaken for the Ravva block. Vedanta, through its Cairn Oil & Gas vertical, holds 22.5 per cent in the field. The other partners are ONGC with 40 per cent stake and Ravva Oil with 12.5 per cent stake. 

Videocon Industries, which is among the RBI’s list of 40 largest defaulters,