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Enron Mail |
Seethayya,
This is great news. Credit goes to all those who worked towards making this possible, especially Ramu, Mr. Mehta, Jane, Heidi and yourself who went through draft after draft of the note to Chidambaram. This is good news for us!! Regards, Sandeep. K Seethayya 02/06/2001 08:35 AM To: Neil McGregor/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jane Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep Kohli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jimmy Mogal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ashok Mehta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mohan Gurunath/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Shubh Shrivastava/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Heidi Hellmann/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rajesh Sivaraman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Pancharatnam Ramaswamy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Arvind Rawat/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ritu Kalia/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Good news - Cabinet approval for Power Trading Team: Today Union Cabinet has approved the proposal of Ministry of Industry to allow foreign equity participation in power trading. This was conveyed by Secretary (Power) during his meeting with Wade. In normal course, the proposal was slated to be coming up for Cabinet in next few weeks. Keeping in view the developments of DPC invoking State Guarantee, perhaps Cabinet has hurried it up. The exact proposal approved was - "to allow foreign equity participation through automatic route upto 100% for trading in power sector, subject to prevailing laws." Irrespective of urgency of this approval to us, the best thing is that we are getting the approval without Draft Electricity Bill, 2001 being finalised. As most of you are aware, initially the proposal was stalled at FIPB level pending finalisation of Electricity Bill. Then it has gone to Group of Ministers who had taken a positive approach and now the Cabinet has cleared it. Now FIPB either issue an approval to Enron LLC or advise us to avail automatic route. We will have one of it, culminating great team work. Seethayya
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