Most shipbuilding companies are retracting from looking to acquire Reliance Naval and Engineering Limited (BSE:533107) (RNaval), which is hived-off to pay its debts. But JSC United Shipbuilding Corporation (USC) is still interested. Media report said USC had opted out of the bidding in October, 2020, but the Russian Embassy in India clarified that USC has not officially showed its refusal to take part in the bidding. In addition to USC, two large Indian firms namely Chowgule and Company Private Limited and APM Terminals Management B.V. were in competition, along with various asset reconstruction companies.