According to an Economic Times report, Saroj Kumar Poddar, the soft-spoken chairman of the Kolkata-based Adventz group, is discussing an option to jointly manage the operations of Mangalore Chemicals & Fertilizers (MCF) with the UB Group head honcho Vijay Mallyato thwart attempts by Deepak Fertilisers to wrest control of the Mangalore-basedfertiliser company. 

ET quoted him as saying "We are examining various alternatives, including managing the company jointly". Control over MCF will strengthen Zuari's position in Karnataka and Maharashtra. The only sore point could be the company's huge debts. However, if the cash in the company's books, as well as advances to the government (in the form of subsidy) is adjusted, the net debt drops and thus the valuations become attractive.

Read the ET report here