Re: ADR

---------------------- Forwarded by Donna Lowry/HOU/ECT on 06/06/2000 04:53
PM ---------------------------

Rajesh Agarwal@ENRON_DEVELOPMENT
06/06/2000 12:19 AM
To: Rahul Basu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Mary Perkins/HOU/ECT@ECT, Donna Lowry/HOU/ECT@ECT, Cathy L
Moehlman/HOU/ECT@ECT, Gopalakrishnan
Subramaniam/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raj
Thapar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: ADR

A small clarification; The entity we are buying is 'Rediff.com India
Limited', The entity we are buying through needs to be advised by Mike/Lauren.

Regards

Rahul Basu
06/06/2000 10:16
To: Mary Perkins/HOU/ECT@ECT
cc: Donna Lowry/HOU/ECT@ECT, Cathy L Moehlman/HOU/ECT@ECT, Rajesh
Agarwal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gopalakrishnan
Subramaniam/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raj
Thapar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Re: ADR

Hi Mary,

Thanks for the quick response. Please see my answers to your queries in blue
below :

Rahul

To: Rahul Basu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Donna Lowry/HOU/ECT@ECT, Cathy L Moehlman/HOU/ECT@ECT
Subject: ADR

Rahul,
Thanks for the message about the potential purchase of ADR's. Has this deal
gotten an approved DASH? Not yet, we will be taking it for approval in a day.
What is the name of the entity we are buying? Mike/Lauren to advise us.

On the bank account side, just let me know what Mike decides on the tax side
and we will work to get the appropriate accounts set up. Is there any chance
to use the GAIL entity? It already has a Morgan Stanley account.Mike to tell
us. I'd like to use that or the Mauritius entity if possible from a tax
standpoint.

On the trading side, we have a directive that all market trades must be done
through the securities trading process. You need to contact Donna Lowry
first. She will then get you in contact with the right people on the trading
side. They will work with you on the details of how the trade needs to go.
Be sure to keep Cathy Moehlman involved (she's on my team). She will make
sure the money gets where it needs to go.OK, we'll be in touch with Donna and
Jeff Kinneman

We use Morgan Stanley here to settle market trades. As soon as we know
about the specific entity, that account can get set up.

Talk to you soon.
Mary