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India: Enron issue turns FIs 'cautious'.
MUMBAI, Dec. 1 DOMESTIC financial institutions will be "cautious" before investing funds in the over 20 power projects currently under "review", thanks to the Enron fiasco, a senior IDBI official today said.
With Enron Corporation, the parent company of the troubled Dabhol Power Company, drifting towards bankruptcy, Indian FIs are growing increasingly worried about salvaging their funds of over Rs 6,500 crore in loans and guarantees.
"We had all the performance and legal guarantees when underwriting loans to the Dabhol power project. But there is also a certain degree of trust involved in business all of that has been shaken after the way Enron's share …
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News wire article from: Asia Africa Intelligence Wire
June 24, 2005
700+ words
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News wire article from: Asia Africa Intelligence Wire
June 24, 2005
700+ words
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News wire article from: Asia Africa Intelligence Wire
June 23, 2005
700+ words
