Foreign and Indian lenders of the troubled Dabhol Power Company would meet in Singapore on Monday to find a solution to the vexed issue even as majority stakeholders in DPC, GE and Bechtel have offered to sell their equity for close to $400 million.
Sources said the Indian and foreign lenders would meet on April 26 in Singapore to discuss the issue in the light of the acquisition of Enron stake in DPC by GE and Bechtel.
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Both companies have together submitted a proposal to the Indian Government for selling off the foreign equity (GE and Bechtel) in the project for about $400 million including $260 million towards equity and $140 million for contractual works carried out by them.
Indian lenders, however, declined to comment on the developments following the US bankruptcy court award and said they were weighing all options before them.
Earlier this month, an US bankruptcy court had approved the transfer of 65.8 per cent Enron stake in DPC to GE and Bechtel for a consideration of $22 million while rejecting a higher bid of $25 million by Reliance Industries.
