Mumbai: A Mumbai High Court receiver on April 2 took control of the beleagured Dabhol Power Company's (DPC) assets in Guhagar, paving way for Industrial Development Bank of India (IDBI) led Indian lenders to seize the plant in near future.

"The court receiver has taken over DPC assets today and a decision on the seizure of these assets will be taken in the lenders' meeting to be held by the weekend," IDBI chairman and managing director P P Vora told reporters.

All the lenders to the bankrupt company are scheduled to meet in Mumbai for two days from April 8 to take a decision for seizure of assets as it seems to be next logical step.

"There are more than 30 banks and financial institutions involved in this imbroglio. This meeting will also discuss the possibility of enforcing the security of DPC's assets," Vora said.

Asked whether lenders' over Rs 2,600 crore exposure to DPC would turn into bad assets, Vora replied in the negative and said, "There is no fear of assets turning into non-performing assets (NPA) as there is enough funds in the bank".

The lenders have also rejected global oil major BP's Expression of Interest (EOI) for picking up 85 per cent foreign equity in the company. Vora confirmed the development and said, "There is no question of accepting any bid now".

IDBI had rejected BP's EOI two weeks ago as the oil major had submitted its interest after the expiry of the due date on February 7 last.

"We have been intimated by IDBI that we are not eligible this time round", a BP spokesperson said.

PTI