Partner Channels: Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel
May 10, 2001
|
|
|
|
|
|
||
|
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Wedding | Women Partner Channels: Auto | Bill Pay | IT Education | Jobs | Lifestyle | Technology | Travel |
||
|
|
||
|
Home >
Money > Business Headlines > Report May 10, 2001 |
Feedback
|
|
|
IDBI asked to seek legal advice on lenders' letterBS Economy Bureau The Centre has asked the Industrial Development Bank of India to seek legal advice on the letter issued by the international lenders to Enron seeking a series of sops from the Maharashtra and the Central governments. In a communication to the financial institution, the finance ministry has said a decision to provide escrow cover and increase the limit under letter of credit to Dabhol Power Company as per the demand of the energy major's global and domestic lenders last week could only be taken after considering all the relevant issues. In the reply, sent to the Maharashtra government too, the ministry has communicated the state government's refusal to tow the line on the demands put forward by the lenders in a letter to finance secretary Ajit Kumar. The lenders from the consortium of banks including ABN Amro, Credit Suisse First Boston, Citibank NA, ANZ Export Finance and Bank Of America had asked for payment of the disputed Rs 2.13 billion towards December and January bills, plus an escrow cover and an increase in the letter of credit amount. It had also asked the Centre to honour the counter guarantees and its obligations in the power purchase agreement. Meanwhile, the state on Wednesday appointed Singapore-based lawyer Quentin Loh as its representative for the three arbitration cases and the Maharashtra State Electricity Board would be represented by former Bombay High Court judge M L Pendse. Powered by YOU MAY ALSO WANT TO SEE:
ALSO READ:
|
||||
