Family trust of Vedanta's Anil Agarwal to not bid for Jet Airways

Vedanta Resources Executive Chairman Anil Agarwal's family trust, Volcan Investment, has pulled out from the bidding process for grounded Jet Airways. The development comes days after it submitted Expression of Interest (EoI) for fresh investment. Agarwal said, "The EoI was exploratory in nature. On further evaluation and considering other priorities, we intend to not pursue this further."