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Mumbai HC restrains DPC

MUMBAI MARCH 21. The Mumbai High Court today restrained the Enron-promoted Dabhol Power Company (DPC) from filing bankruptcy proceedings in an American court and ordered immediate appointment of a court receiver to preserve the company's assets in India.

Hearing a suit filed by Indian lenders led by the IDBI, Justice P.V. Kakade maintained status quo on the funds of the DPC lying with the Bank of America to the tune of $ 8.4 millions.

— PTI

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