The Industrial Development Bank of India – a major creditor of Dabhol Power Co. - said Thursday a two-day meeting in Singapore between the Indian lenders' consortium and DPC officials will go-ahead, contrary to a DPC statement issued Wednesday. DPC is the Indian unit of U.S. energy company Enron Corp..
"The meeting is happening (Thursday) in Singapore," V.K. Saxena, IDBI's chief general manager said.

"It may continue until (Friday), depending on the outcome of the talks (Thursday). All major Indian lenders will be present at the meeting. We are trying to find an amicable solution to this crisis," Saxena said.
"The lenders have potential buyers like BSES Ltd. and Tata Power Co. Ltd. who are interested in buying out Enron's stake in Dabhol Power Co.," Saxena added.
A DPC spokesman was unable to comment when reached, but said a statement would be issued soon.
DPC's domestic lenders include ICICI Ltd., Industrial Development Bank of India, IFCI Ltd. and State Bank of India (P.SBI). Bureau Report