The deadline to submit takeover bids ends on Tuesday, and the sources told Reuters Jindal had decided against bidding after evaluating the airline's financial statements.
"The EoI was largely to check the valuation of the airline and get access to the company's data," said one of the sources.
Jindal Power and Go First's resolution professional did not reply to emails seeking comment.
The Central Bank of India (CBI.NS), Bank of Baroda (BOB.NS), IDBI Bank (IDBI.NS) and Deutsche Bank (DBKGn.DE) are among the top creditors to the airline.
Both bankers said the liquidation of the airline was now the most likely option as there were no serious bidders.
Persons:
Francis Mascarenhas, India's, Reuters Jindal, Jindal, Banks, Siddhi Nayak, Sarita Chaganti Singh, Miral
Organizations:
REUTERS, Rights, India's Jindal Power Ltd, Reuters, Jindal Power, Bankers, Central Bank of India, Bank of Baroda, IDBI Bank, Deutsche Bank, Siddhi, Thomson
Locations:
Shivaji, Mumbai, India, Rights MUMBAI, Bank, BOB.NS, Delhi