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Enron Mail |
I had a meeting today with Milind Laad (Financial Controller), Anand S.
(Manager - Accounts) and Heidi Hellman (commercial associate & person responsible for setting up the mid & back office functions) from the Indian office in regards to their expected Coal, Power, liquid fuels, and gas transactions. We based the discussion around the checklist (copy attached below). The following is a summary of the meeting. India is in the process of looking at potential deals but has not signed any contracts yet. Heidi and Milind believe that in the near term India will only be doing a few structured deals and no trading. Heidi, Milind and I went over the checklist together and the results indicate that there is still a lot to do before India commences activities. They have talked to a number of people about their plans but have not formalized anything as of yet. Also, I'm not sure they yet appreciate the number of processes and procedures that must be established before any transactions have commenced. I politely told Milind that the Enron way is to have systems, processes, procedures and controls established before any deals have commenced and that we have to make sure this happens. Lastly, there are certain things that they told me that I'm a bit worried about (the first is that a commercial person is responsible for setting up controls and processes). I would like to talk to each about some of these as well as about what involvement you have had with India to date and what involvement you may have on an ongoing basis. Regards Shona
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