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Money > Business Headlines > Report September 19, 2001 |
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HC adjourns MERC case to Sep 27A division bench of Bombay high court on Wednesday adjourned till September 27, the hearing to decide the jurisdiction of Maharashtra Electricity Regulatory Commission to adjudicate in the power purchase agreement dispute between DPC and Maharashtra State Electricity Board. The bench, comprising Justice A P Shah and Justice S A Bobde, also admitted intervention applications of US exim bank and 11 other international lenders, to put forth their oral submissions before the court in favour of Dabhol Power Company, in the next hearing. The international lenders, whose total exposure in the project is to the tune of Rs 20.88 billion, had earlier moved an application for their safeguard, in favour of DPC. The bench has further issued a notice of motion to a member of MERC Jayant Deo, and summoned him to appear before the court on September 27. Deo had been assigned by the Mumbai Grahak Panchayat to study the Enron project, to which DPC -- a subsidiary of US energy major Enron -- had objected saying that Deo is biased against the project and may influence other members of the commission while passing the order. The DPC has also allegedly that Deo was attached to Mumbai Grahak Panchayat, a non-government organisation, which was against the Dabhol project. In this context the bench has issued notice to him and sought to know why Deo should not be made a party in the case, following the allegations made by DPC against him. UNI ALSO READ:
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