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Dabhol owners hold fire

New Delhi, May 5: The promoters of Dabhol Power Company, beleaguered US energy giant Enron Corporation, and the Maharashtra State Electricity Board (MSEB), today agreed to freeze their disputes before the state electricity regulatory commission and foreign arbitrators till the Supreme Court decided on the issue of jurisdiction.

A division bench comprising Justices Y. K. Sabharwal and H. K. Sema recorded this undertaking while hearing the matter and passed a common order on a petition by the DPC challenging the Bombay High Court order giving the Maharashtra Electricity Regulatory Commission (MERC) exclusive jurisdiction to decide disputes between DPC and MSEB over the payment of dues.

DPC had closed its operations in India one-and-a half-year ago due to differences between MSEB and Enron over the price to be paid by the state board to the promoter on purchase of power. It was agreed by both parties that till the apex court decided on the issue of jurisdiction, MERC would not pass further orders on MSEB’s application.

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