Business Standard

Centre may have to pay Dabhol damages

Image

Subhomoy Bhattacharjee New Delhi
 This is because the OPIC has a clause in its agreement with the Indian government on the DPC. The clause allows the OPIC to claim damages if there is a case of national expropriation.

 Senior government sources said the decision by an independent arbitration tribunal in the US asking the OPIC to pay claims of $ 28.57 million each to Bechtel Power Corporation and GE as political risk cover for the two companies

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 11 2003 | 12:00 AM IST

Explore News