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DPC to file special leave petition in SC soon

US energy major Enron's Dabhol Power Company will file a special leave petition in the Supreme Court early next week to challenge Bombay high court's June 26 order.

Enron India managing director K Wade Cline informed the representatives of Indian financial institutions this evening about their decision to approach the apex court in Bombay, on Thursday, sources told PTI.

A DPC delegation met the representatives of FIs and briefed them about the latest developments with regards to Enron Corporation chairman Kenneth Lay's visit to India.

On June 26, the high court had dismissed DPC's petition challenging Maharashtra Electricity Regulatory Commission's jurisdiction to adjudicate its dispute with the Maharashtra State Electricity Board and had stayed its order till July 10 allowing the energy major to move the Supreme Court.

However, the multinational had obtained a further reprieve till July 17 as it had received the court order on July 2.

In the meeting, sources said, Cline and his officials were not comfortable with the state government's decision to initiate a judicial probe into the agreement the multinational signed with MSEB.

"DPC officials said it was unfortunate that the state government decided to go ahead with the probe despite having met Lay, just a day before the announcement", the sources said.

Cline is also believed to have emphasised that the US energy major wanted the Centre to act strongly to find a buyer for the 1,444 mw phase-II of the project, sources said.

The multinational also was waiting for MSEB to change its stand and resume offtake of power from its 740 mw phase-I, they said.

"With all these developments, DPC management feels that the clock has started ticking backwards for their headway in finding a solution for the several month old impasse", sources added.

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