MSEB officials say PTN not valid during arbitration
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19/05/2001
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Economic Times (New Delhi)
The Lights at DPC have been flickering fro a long time now. Today, the beleaguered company issued the pres-termination notice (PTN) on Maharashtra State Electricity Board (MSEB), ending weeks of suspense over its possible course of action. The move, which has come without the consent of Indian lenders, has left Indian financial institutions, led by IDBI, dazed. Strangely Enron's pull - out moves have come despite the Crore striking a conciliatory note as proposed to arbitration on the disputed penalty issue between MSEB and DPC.