FYI
----- Forwarded by Sara Shackleton/HOU/ECT on 06/16/2000 09:00 AM -----

	Sheila Glover
	06/16/2000 07:50 AM
		 
		 To: Donna Lowry/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Lauren 
Hagerty/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: 
		 Subject: India

This is the response I got back from Goldman which is parallel to the 
Bhaskar's e-mail on 6/9/00.
sg 
---------------------- Forwarded by Sheila Glover/HOU/ECT on 06/16/2000 07:44 
AM ---------------------------


"Sibeud, Eugenie B" <eugenie.sibeud@gs.com> on 06/14/2000 07:58:54 PM
To: "'sheila.glover@enron.com'" <sheila.glover@enron.com>
cc:  
Subject: India


Below is the response that we received from our Agent.  Please call me at
(2120 902-1930 with any questions that you may have.


This has reference to our telecon. Enclosed is the relevant RBI regulation
for the captioned company (ABC) to sell its stake in the local company. To
effect the sale, ABC would require an approval from Reserve Bank of India
(RBI) even though the stock is listed. The documentation required varies
depending on whether the stock is thinly traded or actively traded. RBI's
definition of thinly traded is included in the regulation.

The company is required to fill out Form TS1 (I  am enclosing the format)
and submit this to RBI. In addition, the RBI requires certain documents
which are detailed in the form itself.

Trust this helps. Any other information that you require, please do not
hesitate to get in touch.



(See attached file: Sale of Holdings of the Mauritius company.doc)


********************************************************************
Any opinions, express or implied,  presented are solely those
of the author and do not necessarily represent those of
Standard Chartered Group
********************************************************************


 - Sale of Holdings of the Mauritius company.doc