It is a well known fact that Anand Mahindra’s M&M group has shown a lot of interest in the Korean automaker, SsangYong Motor but the Tyre maker Dunlop's owner, Pawan Kumar Ruia has submitted a bid to gain control at the reins of the struggling auto major.

While the company has been undergoing a court-led restructuring from 2009 after taking a beating from the recessionary blues, it is believed that the worth of the company is close to $500 million.

It may be noted here that the final process of the bidding is now over but the spokesperson of the Ruia Group confirmed putting in the bid and refused to divulge any further details about the same.

According to the industry sources, Dunlop is in race along with M&M and the South Korea’s third largest automaker Renault Samsung, in the case of which the deal could range up to $600-800 million.

While Mahindra earlier lost out to Tata Motors in 2008 in a bid to acquire JLR brands, but the Group has been growing very fast in the Indian market as well as globally.