Reliance, Adani Power set for epic clash at Lanco unit auction.

Reliance Industries Ltd. (RIL) and Adani Power are set to compete at an auction scheduled on November 25 for distressed thermal power firm Lanco Amarkantak Power, which is undergoing corporate insolvency, said three people aware of the development.

This is the first time two of the country's largest corporate houses will be vying directly against each other for an asset. A consortium of Power Finance Corp. and REC Ltd., both state-owned, will also be participating in the bidding process, the people said.

ET