Lawrence Street appointed conciliator by DPC
New Delhi: In order to resolve the issue of payment of the December bill of Rs 102 crore with the Central government, Dabhol Power Company has appointed Lawrence Street as its conciliator.

A DPC spokesman said, "Street is former Chief Justice of New South Wales, Australia. The Centre has to appoint its conciliator by April 16. The two conciliators will then select an independent conciliator to assist in the process," said sources.

Meanwhile, union power ministry has also stepped in to create an atmosphere under which the conciliation process for solving the Dabhol-MSEB payment wrangle could be completed in a speedy manner.

Power secretary AK Basu yesterday held a meeting with the top brass of DPC, which was also attended by finance ministry officials.
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Real estate revival
Mumbai: With some major deals being stuck last month the real estate market seems to be reviving.

Glaxo India Ltd plans to sell a plot of land measuring 6,555 sq yards at the Worli Estate to HSBC for a sum of Rs 40 crore.

Glaxo proposes to sell the plot to the bank once it is approved by the Income Tax Department.

In yet another major deal, Tata Internet Services Ltd has acquired a building at Andheri for a sum of Rs 31.75 crore. The building is situated in the Nelco complex at Mahakali Caves in Andheri and comprises the ground and upper two floors. Nelco Ltd owned the building.

The Securities & Exchange Board of India (Sebi) has also bought a plot of land at Malad. The cost of the property measuring 4,000 sq metre at Malad village is Rs 20.28 crore. The plot earlier belonged to Havenkores Real Estates Pvt Ltd.

Other deals include Shaw Wallace & Co Ltd’s acquisition of smaller plots, measuring 4821.69 sq metre totally at Chakala for a sum of Rs 12.5 crore. The property was bought from Hindustan Dorr Oliver Ltd.

Again, HDFC Ltd, situated at Ramon House at Backbay Reclamation, has taken over a commercial building with six floors totally measuring 36,000 sq ft at Oshiwara Garden Road, Goregaon (west) for Rs 5.8 crore. The building was bought from New Standard Engineering Co Ltd.
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