Search the Internet          Tips  Sites: Finance, Investment

DPC asks Centre to resolve dispute

Within 24 hours of receiving a notice for termination of its 7-year old contract with Maharashtra State Electricity Board, Enron Corporation-promoted Dabhol Power Company on Friday petitioned Centre to help resolve the matter at the earliest.

DPC managing director and CEO, Wide Cline met power secretary A K Basu and is learnt to have discussed the situation arising out of DPC serving a preliminary termination notice because of an unresolved six-month dispute over bills owed by MSEB.

Confirming the meeting, Basu said, "Centre will do whatever possible to resolve the DPC-MSEB row at the earliest."

"We advised DPC to appear before the Maharashtra government's negotiating committee headed by Madhav Godbole to plead their case," he said, adding Centre too has appointed former telecom secretary A V Gokak on the committee for an early solution.

He, however, declined to give further details of what transpired at the meeting.

The negotiating committee, which could not hold the last meeting, is the only platform where the two aggrieved parties could air their views and arrive at a mutually acceptable solution to the problem.

"Gokak has been fully briefed and he would try to bring both sides on a common ground. But both the parties have to come to an understanding between themselves," he added.

YOU MAY ALSO WANT TO READ:
The Enron Saga
Lower DPC tariffs: High oil prices may affect talks
MERC asks MSEB to justify clearing DPC project
Govt to help Enron patch up with MSEB
Pacified Godbole withdraws resignation
CM asks Godbole to withdraw resignation; meet with DPC called off
DPC faces fresh Rs 4 billion penalty
Enron Indian lenders to lobby for government help
Enron's Indian lenders spooked by pull-out threat

Tell us what you think of this report