Rediff Logo
Money
Line
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Wedding | Women
Partner Channels: Bill Pay | Health | IT Education | Jobs | Technology | Travel
Line
Home > Money > PTI > Report
June 12, 2001
Feedback  
  Money Matters

 -  Business Special
 -  Business Headlines
 -  Corporate Headlines
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      



 
 Search the Internet
         Tips
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page

HC tells DPC, MSEB to settle dispute amicably

The Bombay high court on Tuesday adjourned to June 21 the hearing on a petition by Dabhol Power Company challenging the jurisdiction of Maharashtra Electricity Regulatory Commission to intervene in the dispute between US energy major and the Maharashtra State Electricity Board.

The hearing was adjourned to enable the parties to arrive at an amicable solution.

On a query by Justice Ajit Shah, counsel for DPC, Atul Setalvad said his client would certainly prefer an amicable solution to its dispute with MSEB and sought time to seek instructions in this regard.

Advocate General Goolam Vahanvati said "the state is not interested in dumping the multi-billion project in the sea and will certainly welcome an amicable solution to the dispute."

However, he said the Centre would have to play an active role in this regard.

The court did not stay MERC's impugned order of May 29 restraining the multinational from activating escrow account and initiating international arbitration proceedings against the MSEB.

The bench headed by Justice Ajit Shah also directed MERC to adjourn until further orders its hearing on June 14 on MSEB's plea to restrain DPC from activating its escrow account and referring the dispute to international arbitration.

ALSO READ:
The Enron Saga

Back to top
(c) Copyright 2000 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Tell us what you think of this report