UK-based Liberty House is reportedly the sole remaining bidder for bankrupt Indian shipbuilder ABG Shipyard.
Indian group Shapoorji Pallonji has withdrawn from the process, according to BTVi.
Bidding levels have reportedly been between INR 30bn and INR 35bn ($541m).
Mahindra & Mahindra was also said to have been interested at one point.
Bid levels suggest a haircut for the selling banks of 70% of their outstanding loans.
