The Enron Saga

June 1992

GoM singed MoU with Enron.

December 1993

PPA signed.

February 1994

State guarantee signed by GoM.

September 1994

GoI counter guarantee signed.

August 1995

GoM filed a suit against DPC and MSEB in Bombay High Court seeking cancellation of the PPA on grounds of fraud, corruption and misrepresentation.

November1995

Rebecca Mark met Bal T  Rebecca Mark met Bal Thackeray.

November 1995

GoM announced renegotiations and appointed a committee to revive both phases.

August 1996

Binding PPA signed.

March 1998

Special leave petitions filed in Supreme Court challenging the project.

September 1999

Supreme Court directed the State and Center to file replies.

December 2000

MSEB delayed settlement of DPC dues.

January 2001

The CM of Maharashtra said that the government couldn't pay Dabhol bills.

February 2001

Enron invoked state government guarantee.

February 2001

Enron invoked central government guarantee.