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May 30, 2001
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Money > Business Headlines > Report May 30, 2001 |
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Centre seeks 60 days extension in Dabhol conciliation periodSantosh Tiwary The Centre has asked Dabhol Power Company to extend the conciliation period for settling the issue of payment of the December 2000 bill by Maharashtra State Electricity Board. Top government sources said that the request seeks to extend the date by two months beyond the present deadline of June 7 as the conciliators have decided to conduct proceedings on three consecutive days beginning July 23. They added that in the absence of an extension of the conciliation period, the whole process would come to a cropper even before starting. The delay in proceeding was mainly on account of the differences in the appointment of a third conciliator, officials said. After a delay of more than a month, the two parties have now agreed to appoint David AR Williams QC, a former judge of the New Zealand High Court as the third conciliator. The conciliation between DPC and the central government started on April 9, after DPC agreed to accept the Centre's stress on conciliation instead of arbitration, in response to its notice. While pointing out that the reason for delay in the conciliation process was the absence of a third conciliator, the Centre has now said that in order to allow the conciliators to complete their job, it was necessary to extend the period of conciliation. Sources said that the central government has asked DPC to respond at the earliest, so that the government's conciliator could be informed accordingly. Earlier, DPC had appointed Laurence Street as its conciliator for resolving the issue of non-payment of the December bill of Rs 1.02 billion with the central government. Street is a former Chief Justice of New South Wales, Australia. The Centre has appointed chairman Law Commission Justice BP Jeevan Reddy as its conciliator. The notice to the Centre, on April 4, was issued by DPC after the former conveyed to the company that until the availability of the penalty issue was resolved, it did not intend to pay the December bill under the counter-guarantee. The MSEB has slapped a Rs 4.02-billion availability penalty on DPC and has demanded adjustments for it against the outstanding bills for December 2000 and January 2001. Powered by YOU MAY ALSO WANT TO READ:
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