Uncertainty: Eight DPC directors step down

The ongoing Enron saga has taken a new turn with the eight directors of the beleaguered Dabhol Power Company DPC including former managing director K. Wade Cline resigning from the board of directors on late Sunday evening in view of prevailing uncertainty. DPC8217;s operations stand abandoned as the resignations coincided with expiry of work contract of DPC8217;s staff at Mumbai office and at the Dabhol plant site on Sunday.

Site faces workforce unrest

MUMBAI: DPC8217;s energy complex manager at the plant site, Jaydeep Chhaya in a communication to the Mumbai office has sought instructions to tide over the situation in view of mounting unrest among the remaining workforce at the plant site and the possible danger for Dabhol assets. 8220;IDBI8217;s dilly-dallying over taking charge of Dabhol assets through a court receiver and some of the visit of outside security consultants of IDBI have created a commotion among the security personnel. The general employees are in the wild mood,8221; Chhaya said. According to him, over 33,000 tonnes of naphtha and 17,000 tonnes of fuel oil have been stored at the plant site which has really become a major safety concern. 8216;Any smallest accident can cause damage to the distressed Dabhol assets and the surrounding villages,8217; he warned. Chhaya wanted to know why IDBI had not chosen to continue the functioning of asset preservation cell at the site to avoid any damage. He said that an intervention from the local police has been sought to avoid any major untoward incident. DPC is expected to hand over Chhaya8217;s letter to IDBI. ENS

The list of directors who have put in their papers included K Wade Cline, James A Hughes, Rober H Walls Jr, Bruce D Lundstorm, Kimberllem Driscoll, Jeffery Sommers all representing Enron Mauritius Company, Richard Allison representing GE promoted Capital India Power Mauritius and Donald Sturmer Bechtel.

The recently appointed new DPC managing director S Mohan Gurunath had already resigned from his post as well as from the directorship on Friday last. Although, Driscoll and Sommers were appointed on the DPC board of directors at the board meeting held in January-February this year, their nomination was to be ratified at the next meeting.

It must be mentioned here that Driscoll and Sommers had been nominated in view of the two vacancies created after the resignations of Maharashtra State Electricity Board8217;s former chairman Vinay Bansal and its former technical director Prem Paunikar. While Bansal has gone on deputation at the centre, Paunikar has taken a voluntary retirement. Sources said that with these resignations and expiry of work contracts, the DPC8217;s day to day operations had come to a grinding halt as Gurunath along with ex-staffers have been coming to the DPC8217;s Mumbai office as a caretaker without having any formal contractual obligations.

According to these sources, the Industrial Development Bank of India IDBI would have to initiate moves for the appointment of a team of DPC8217;s ex-staffers for assisting the high court receiver in carrying out preservation and precaution of Dabhol assets and for the related administrative matters.