Sara,

I had a call on this from Bob a few weeks ago.  I told him that generally it 
was ok, but that we would need to revise our file should he require a 
definitive position, plus we would need to ensure that advice which we 
ploughed through earlier last year was still current.  He told me not to do 
any more work on this at the time because it was not clear whether there was 
any chance of doing a deal with an Indian counterparty.

I am more than willing to send you ou all my notes, etc, however, which 
crunched through the 1/14/97 opinion with Crawford's and asked supplemental 
questions.

Kind regards

Mark 


From: Sara Shackleton on 22/06/2000 08:31 CDT
To: Mark Elliott/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT
cc: Paul Radous/Corp/Enron@ENRON 

Subject: India:  derivatives

Mark:  ENA is looking into derivatives trading with an Indian corporate.  My 
latest information is the opinion from 1/14/97 rendered by Crawford Bayley & 
Co. (which was part of our global survey effort a few years ago).  Do you 
have anything more recent?  The ENA inquiry came from the pulp and paper 
group.  Thanks for your help.  Sara