NEW DELHI: A consortium led by the Dainik Bhaskar media group is understood to have made a Rs.325-crore bid for reviving the ailing Super Bazar shopping cooperative here in the Capital.

According to sources, the media group made the highest bid in collaboration with three other companies, followed by a Rs.265-crore offer by Indian Potash Ltd, whose earlier joint bid with the Indian Labour Cooperative Society to turn the Super Bazar around failed.

The National Cooperative Consumer Federation of India along with Pantaloon Retail too made a Rs.250-crore offer to bail out the cooperative.

The bids were received following the Supreme Court’s direction on July 12 to the official liquidator and the Central Registrar of Cooperative Society for inviting fresh bids within four weeks.

Earlier, the consortium of IPL and ILCS had offered to nurse Super Bazaar back to health after Reliance Industries Ltd, which had proposed to infuse Rs.288 crore, withdrew from the race.

The official liquidator and the Central Registrar of Cooperative Society will submit their report to the Court within a week after the Court-appointed committee examines the new bids. – PTI.

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