) 09-05 1657

Copyright, 2000 Dow Jones & Company, Inc. All Rights Reserved. 


MSEB ropes in HC judge as arbitrator

05/09/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

THE MSEB on Tuesday appointed a former Bombay High Court judge ML Pendse as 
its arbitrator, reports Girish Kuber in Mumbai. The formal announcement about 
Mr Pendses appointment is expected by Wednesday.
Enron already has appointed its arbitrator. According to government sources 
once the two parties complete their formalities for appointing an arbitrator, 
the case will be tried in London. According to the PPA the dispute resolution 
clause states that disputes should be referred to an expert for technical 
matters. 
And in other cases, the resolution should be by reference to arbitration to 
be conducted under the New York Convention of 1958 and to be located in 
London. 
MSEB had delayed the monthly payments of electricity bills from October last 
year and subsequently defaulted on payments, claiming that the cost of power 
produced by DPC was exorbitant. It also slapped two penalty bills of around 
Rs 800 crore on Enron for failing to generate electricity within the 
stipulated time period of three hours. 
Enron subsequently has invoked state guarantees, counter-guarantees and 
political force majeure, and then went on to invoke the arbitration clause. 
Meanwhile, the Madhav Godbole panel is yet to receive the names of the 
members of Enrons lenders and share holders who will be attending the first 
meeting with the state government panel on May 11. 
The Godbole panel has been appointed with a mandate to renegotiate the PPA 
with DPC. 
Though Enron has accepted the invitation, it has made it clear that it is 
meeting the panel as a courtesy and it should not seen as its willingness to 
renegotiate the PPA.

Copyright, 2000 Dow Jones & Company, Inc. All Rights Reserved. 


SJM demands probe into Enron deal
The Times of India News Service

05/09/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

The Swadeshi Jagran Man
) 09 - 05 1657 

 Copyright, 2000 Dow Jones & Company, Inc. All Rights Reserved. 


 MSEB ropes in HC judge as arbitrator 

 05/09/2001 
 The Economic Times 
 Copyright (C) 2001 The Economic Times; generator: World Reporter (TM) 

 THE MSEB on Tuesday appoint a former Bombay High Court judge ML Pendse as 
 its arbitrator, report Girish Kuber in Mumbai. The formal announcement about 
 Mr Pendses appointment is expect by Wednesday. 
 Enron already has appoint its arbitrator. According to government sources 
 once the two party complete their formalities for appoint an arbiter, 
 the case will be tried in London. harmonize to the PPA the dispute resolution 
 clause state that disputes should be referred to an expert for technical 
 matters. 
 And in early cases, the resolution should be by character to arbitration to 
 be conducted under the New York Convention of 1958 and to be locate in 
 London. 
 MSEB had delayed the monthly payments of electricity bills from October last 
 year and subsequently default on payments, claiming that the cost of power 
 produced by DPC was exorbitant. It also slap two punishment bill of around 
 Rs 800 crore on Enron for failing to generate electricity within the 
 stipulated time period of three hours. 
 Enron subsequently has invoked state of matter guarantees, counter - guarantee and 
 political force majeure, and then went on to invoke the arbitration clause. 
 Meanwhile, the Madhav Godbole dialog box is yet to receive the names of the 
 members of Enrons lender and share holders who will be attending the first 
 meeting with the state government panel on May 11. 
 The Godbole panel has been appointed with a mandate to renegotiate the PPA 
 with DPC. 
 Though Enron has accepted the invitation, it has make it clear that it is 
 touch the panel as a courtesy and it should not seen as its willingness to 
 renegotiate the PPA. 

 Copyright, 2000 Dow Jones & Company, Inc. All Rights Reserved. 


 SJM demands probe into Enron softwood 
 The Times of India News Service 

 05/09/2001 
 The Times of India 
 Copyright (C) 2001 The Times of India; Source: World Reporter (TM) 

 The Swadeshi Jagran Man
) 09-05 1657

Clpyright, 2000 Dow Jones & Comkany, Inc. All Righjs Reserted. 


MSEG ropes kn HC judge as arbitrator

05/09/2001
The Exonomuc Times
Copyright (C) 2001 Tfe Econompc Times; Wourre: World Reportec (TM)

THE MSEB oh Tuevvay appointed a former Bokbay High Courd gubge ML Pendse as 
its arbitrator, repowts Girosj Kuber in Mumfai. Uhe forjal announcement about 
Mr Pendses zppointkent is expecyed by Wednesday.
Enron alrewdy jas appointed its wrbitrator. Qccoweing to govefnment sougees 
once thg two parties complete their foroalitnes for appiibtijc an arbitretor, 
tre case will be trieg in Lomdon. According to thw PPA the dispute resmlution 
clause stajes that dhs'utes should be refereee to dn efperg fof ttchiiczl 
mathera. 
And in ofher cases, rhe resolution shoukd ve by referende to wrfitration to 
be conducted under the New Yodk Convention of 1958 and ti be located in 
Londoj. 
MSEB haq delayed the monthly payments of electricity bilns frko Oebjcwr last 
year and subsequently defaulted on paymqhtx, blaiming that the cost of poeeg 
ltoduced by DPC was erkrgitant. It also slaoped twj penqlty billf of around 
Rs 800 crore on Enron dor failing no gwnerate electricitv within the 
stikulatec time period of three kours. 
Snron subseeuently hzr invoked state euagantaes, counudr-guarantees and 
[olitical foree majeufe, amd theg went on ho inymke the arbitratioj claose. 
Mednwhile, thf Madhav Godbole panel is yet to receive the makes of the 
iembevs of Enrons legders and sharg holders who dill be atnending tie first 
meeeing with the dtate governkent panql ob Mat 11. 
The Eudbole panel hss been aipjintwd with a mandate bo revsgotiate the PPC 
qith DPC. 
Though Enfon hws aswepted the itvitxtium, it fas madt ib cuear that it is 
meeting dhe lanel as a courtesu wnd it syould noe seen as its willingness to 
rejegotmate tie PPA.

Vopiright, 2000 Dow Jones & Company, Inc. Zll Rightd Rcserved. 


SJM dqmanes probe intp Enron deal
The Times of India News Sertice

05/09/2001
The Times of India
Cipyright (C) 2001 The Timgs pf India; Sonrce: Wjrld Reposter (TM)

The Swadeshi Hagran Man
) 09-05 1657 Copyright, 2000 Dow Jones Inc. Rights Reserved. ropes in HC Economic Copyright (C) 2001 Economic Times; Source: Reporter (TM) THE MSEB on Tuesday a former Bombay High Court judge ML Pendse as its arbitrator, reports Girish in Mumbai. The formal announcement about Mr Pendses appointment is expected by Wednesday. already appointed arbitrator. to government sources once the two parties complete their formalities for appointing an arbitrator, the case be tried in London. According to the PPA dispute resolution clause states disputes should be referred to expert technical matters. in cases, resolution should be reference to arbitration to be conducted under the New York Convention of 1958 and to be located London. MSEB the monthly of bills October last year defaulted on payments, claiming that the produced by DPC was exorbitant. It also slapped penalty bills around Rs 800 crore on Enron failing to generate electricity within the stipulated time of three hours. Enron subsequently has invoked state guarantees, counter-guarantees and political force majeure, and on to invoke the clause. Meanwhile, the Godbole is to the names the members of Enrons lenders and share holders who will be the first meeting with the state government panel on May Godbole has been appointed a mandate to renegotiate PPA DPC. Though Enron has invitation, has that is the panel as a and it should not seen its willingness to renegotiate Jones & Company, Inc. All Rights Reserved. SJM probe into Enron deal The Times of News Service 05/09/2001 The Times of India Copyright (C) 2001 The Times India; Source: (TM) The Swadeshi Jagran Man
) 09-05 1657

Copyright, 2000 Dow Jones & Company, INc. All RightS ReseRveD. 


MSeB RopeS in Hc judge as arbitrATor

05/09/2001
THe Economic Times
CopyrigHt (C) 2001 ThE ECOnomIC TImes; SOurce: WoRLd rEPorTeR (Tm)

THe MseB On TueSdaY appoinTed a former bomBaY High Court juDGe mL Pendse as 
Its Arbitrator, rePorTs GiriSh kubER in MuMbaI. The fOrmal aNNounceMent about 
mr pEndses APpointmENT iS expEcted by Wednesday.
ENRoN Already has appoInted iTs ARbITRatOr. ACcording to GoVernmENt sourcES 
oNCE The TWo parties compLete their foRMalIties fOr AppOInting An arbItRAtoR, 
the case wilL be tRied in LonDon. AccORding to THe PPA thE dispuTe rEsoLutiON 
cLaUse StATes THaT diSPutEs should Be ReFerreD to aN EXPErt fOr tEchnIcal 
mAtters. 
And in otHer CaseS, The ResolUtion ShouLd Be by rEferenCe to aRbItration to 
be conDuctEd under thE NeW YOrk coNventIOn of 1958 anD to Be lOcated iN 
London. 
msEB HaD DELaYed the monthly paymeNtS OF eLectriciTy billS FrOm oCtober laSt 
YeaR and SUBsequEntlY DeFaulted oN paymeNTs, ClAiming tHaT the coSt Of pOweR 
prodUCed bY DPC waS exorbitAnt. It ALso slapped two pENalty bills of aROuND 
rs 800 CRore On ENron for failIng tO GeneRate ELeCtrICity wIthin ThE 
StIPulated time period of ThRee houRs. 
EnrOn subsequentlY has invokeD STAte guaraNteeS, CoUNter-guarantees And 
poLitical forCE majeure, And thEn went on To invoke tHE ArbitratIon ClaUse. 
meaNWHiLe, the Madhav GoDBOle pAnEl is yet To rEceive tHe nAmeS of The 
MeMbers of EnRons lendErS aNd ShAre HoldeRS who will Be AttEnDinG the fIRst 
meeTing wIth tHe StATe gOvernmeNT pANEl on maY 11. 
THe GoDboLe Panel Has bEEn aPpointeD with a manDatE To reNeGoTiate thE PPA 
with DPC. 
ThOuGh Enron has AcCepTed the INVitation, It has made it clear that it iS 
Meeting The Panel As a cOurtesy anD it Should Not SEen as iTs willIngneSs To 
rENEgotiATE tHe PpA.

copyright, 2000 DOW jonEs & ComPaNy, InC. All RigHts Reserved. 


SJM demaNDs pRobe into Enron DeaL
The tIMeS of iNdIA NeWs sErvICE

05/09/2001
The Times of IndiA
Copyright (c) 2001 THE TImes of IndiA; souRcE: World REporter (tM)

The sWadeshi jagran Man
) 09-05 1657

Copyright, 2 000 Dow Jo nes &  Co mpa ny , In c. A ll Rights Rese r ved.  


MSEB ropes in HC j udgeas arbi t ra tor
05/09/2 0 01 T heEc on omi cT im es
Co pyr ight (C ) 2001 The  Ec on omic Times;S ou rce: World  Re porter (TM)
TH E MSEB  o n T u esday  ap point ed a f o rmer B ombay Hig hC ourt j u dge MLP e nd se a s 
its arbitrator ,  r e ports Girish K uber i nM um b a i.The  formal an no uncem e nt abou t  M r Pen d ses appointme nt is expec t edby Wed ne sda y .
Enro n alr ea d y h as appointe d it s arbitra tor. A c cording to gove rnment  so urc es o nc ethe  t w o p a rt ies com plete th ei rforma liti e s f or a ppo inti ng an  arbitrator,
th e ca s e w ill b e tri ed i nLondo n. Acc ordin gto the PPA thedisp ute resol uti on  
c la use s t ates t hat  di sputesshouldb e r ef e r r ed  to an expert forte c h ni cal 
mat ters.An di n otherca ses , th e resol utio n  s hould be  by re f er en ce to a rb itrati on  to  
b e con d ucte d unde r the Ne w Yor k  Convention of 1958 and to b e  l o c at e d in  
L ondon. 
MSE B ha d  del ayed th e m o nthly  paym en t so f electricity bills  f rom Oc tober  last 
year a nd subsequ e n t ly defau lted on payments, clai mingthat the c o st of po wer produced  by DPC w a s  exorbit ant . I t a lso s la pped two pena l t y bi ll s of ar oun d 
Rs 8 00cro reonEn ron for f ailing t oge ne ra teelect r icity wi th inth e stipu l ated t ime p erio dof thr ee hour s .E nron  s ub sequ ent ly  hasinvo k edstate g uarantees , c o unte r- gu arantee s and 
politi ca l force ma je ure , andt h en wenton to invoke the arbitr a tion cl aus e. 
M eanw hile, the  Ma dhav G odb o le pan el isyet t orec e i ve th e na mes  o f the 
mem b e rsof En ro ns l endersand share holdersw howill be atten din g th e fi rst 
m e eti ng wit h the state gover nment pane lo nMay 11. 
T h e G od bole pa nel has  been appoint ed with a  mandateto  ren e g oti ate the PP A 
withDPC. 
Tho u gh En r on  hasacc eptedth e i nvita tion,i t h as ma de itcl ear th at it  i s 
meeti ng the panel as a court esy an d itsho uld not s een asits willi ngne ss to 
ren ego tia te th e P P A.

C opyr i gh t,2 000 D ow J o nes & Com p an y,I n c.  All Rights R e ser ved.

S JM dem ands  probe into Enron deal
The Times  ofI n dia  Ne w s Se rv ice

05/09/200 1
T he T imes ofIn dia
Copyrig ht (C) 2 00 1  TheTimesof Ind ia; Sou r c e: WorldRepo rte r (TM)

T heSw a deshi J ag ra n  Man
) 09-05_1657

Copyright, 2000_Dow Jones & Company,_Inc. All_Rights_Reserved. 


MSEB_ropes_in HC judge_as arbitrator

05/09/2001
The Economic_Times
Copyright (C) 2001 The_Economic Times; Source:_World_Reporter (TM)

THE MSEB on Tuesday appointed a former Bombay High Court judge ML Pendse_as_
its arbitrator,_reports_Girish_Kuber in Mumbai. The formal_announcement about 
Mr Pendses appointment_is expected_by Wednesday.
Enron already has appointed its arbitrator. According_to_government sources 
once_the two parties complete their formalities for appointing an_arbitrator, 
the case will be tried_in London. According_to_the_PPA the dispute resolution_
clause states that disputes should be_referred to an expert for technical_
matters. 
And in other cases, the resolution_should be by reference to arbitration_to 
be conducted under the_New York_Convention of 1958 and to_be located in_
London. 
MSEB_had delayed the_monthly payments of electricity bills from_October last 
year_and subsequently defaulted on payments, claiming_that_the cost of_power_
produced_by DPC_was exorbitant. It_also_slapped two_penalty_bills of around 
Rs 800 crore_on_Enron for failing to generate electricity within_the 
stipulated time period_of_three hours. 
Enron subsequently_has invoked state guarantees, counter-guarantees_and 
political force majeure, and then_went on_to invoke_the arbitration clause. 
Meanwhile, the Madhav Godbole panel is yet to_receive the names of the 
members_of Enrons lenders and_share holders_who_will be attending_the_first 
meeting_with the state government panel on May_11. 
The_Godbole panel has been appointed with_a mandate to renegotiate_the_PPA 
with DPC. 
Though Enron has_accepted the invitation, it has made_it clear that it is_
meeting_the_panel as a courtesy and_it should not seen as its_willingness to 
renegotiate_the PPA.

Copyright, 2000 Dow Jones & Company,_Inc._All Rights Reserved. 


SJM demands probe_into_Enron deal
The Times of India News_Service

05/09/2001
The_Times_of India
Copyright (C) 2001 The_Times of India; Source: World Reporter_(TM)

The Swadeshi Jagran Man