Talks with DPC foreign lenders fail

On the other hand, Indian lenders led by IDBI, ICICI Bank, State Bank of India SBI and IDBI8217;s financial consultant NM Rothschild 8212; offered to pay only 60 per cent of their outstanding loan. As on March 15, 2004, offshore lenders are owed 355.81 million for Dabhol phase-I and II.

They have also added another 1.25 billion to the overall bill, either directly or through their security against the Centre and the other Indian stakeholders. These lenders strongly insisted that the Centre8217;s involvement is a must.