Lanco Amarkantak

The state companies - Power Finance Corp Ltd (PFC), REC Ltd SJVN Ltd and Damodar Valley Corp (DVC) - aim to acquire the coal-fired power plant of Lanco Amarkantak in Chhattisgarh in central India

The direct clash between the two major industrialist groups is set to happen during an auction on November 25

If the deal goes through, it will be the third big-ticket acquisition by the Ambani firm under IBC

Company makes a foray into coal-based power generation for the first time

The top 10 exposure up for sale include Lanco Amarkantak (Rs 1,077 crore), Reliance Communications (Rs 721 crore), Ballarpur Industries (Rs 493 crore), Jyoti Structures (Rs 396 crore), and Unitech

LAPL is a coal-fired power subsidiary of debt-laden infra firm Lanco Infratech, which itself is currently undergoing insolvency resolution process