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RE: (Administrative) Shall we continue as a Society ...

Dear Sanjeev

Thanks for your reactions and thoughts.

If we go as a trust, as I now think we should, there is no necessity
for us to have 7 founding members. What we need is a settlor and one
or more trustee/s.

And the rules can be totally flexible.

Are you likely to come to India soon? If so, I think you should be the
settlor (founder) of the trust.

Otherwise, any other person can be a settlor. The present Board can be
the Trustees. However, the settlor and trustees should sign the document.

I shall finalise my thoughts and make a draft of the basic document and
send it to you all this weekend.



On Behalf Of Sanjeev Sabhlok
Sent: Wednesday, September 23, 1998 2:37 PM

Dear Ajay,

Thanks for taking the pains to let us know about the alternative
mechanisms to operate this project (Trust). That method sounds really
flexible. At the same time, I think it is a good idea to have a real Board
with each Board member fully authorized to speak on behalf of IPI.

Now, it appears that we have 8 members now: Antony (he can attend meetings
once a year), Jal, Parth, Prof. Roy, Rajeev, Vikram and Vijay and you. Now
(Sniped ...)

Alternatively, if you feel that we need 8 members, then go for 8! If you
find that the needs of the existing law are satisfied, then we are "in
business" as they say.

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