Sarda Mines, a company affiliated with Jindal Steel & Power Limited (NSEI:JINDALSTEL) (JSPL), has emerged as the winning bidder for Kwality Limited (BSE:531882) (Kwality Dairy) after the milk and dairy products manufacturer was put on auction through an e-bidding process, according to people in the know. The Jindal group firm won the e-bid process with an offer of INR 1.21 billion, said the people. The bid is subject to a final approval from the National Company Law Tribunal (NCLT).

JSPL did not respond to ET's queries till press time. Sarda Mines could not be reached for comment. Kwality Dairy's official liquidator, Shailendra Ajmera of EY, declined to comment when contacted.

Haldiram Snacks Pvt. Ltd. and Groupe Lactalis S.A. were among those also interested in buying Kwality Dairy. Haldiram's had made an offer of INR 1.44 billion to creditors but it was rejected and they chose to send the company into liquidation and put it through an e-auction.