The offshore lenders to the Dabhol project, in a missive to Prime Minister Dr Manmohan Singh, said that the value of the offshore debt cannot be determined without taking into account their claims, either directly or through their security, against the government of India and other Indian stakeholders. Clifford Chance Limited Liability Partnership, solicitors to the offshore lenders, said: “The differences between the parties are large, and will need to be resolved if a settlement is to be reached and further legal proceedings to be avoided.”
