The major contribution of the Godbole Committee is highlighting of the "broad failure of governance" as the root-cause of the fraud and tragedy that struck the state of Maharashtra in the form of the Enron project. But, again, Enron is not alone. The story is not much different in the case of the other independent power producers (IPPs) in the
country. Further, the frauds perpetrated by the IPPs are not stray accidents. Rather, they are symptoms of the deeper malady that has been plaguing the Indian power sector for decades. As our analysis indicates, the financial and performance crises besetting the sector are essentially products of the governance crisis, which is the handwork of the unholy alliances that have taken over the governance of the sector. Further, this take-over is effected by trampling on the inadequate and discretionary provisions for transparency, accountability, and public participation