Ann: India Project Update, page-22

I see this as quite positive. It is apparent that the audit has identified some issues - in the grand scheme of things this is a good thing. Much better to identify and resolve them now rather than to be hit with a surprise and then unanticipated resistance down the track. In the commercial world papering over the cracks always leads to tears before bedtime.

It seems to me that the partners realised that they could send the MPA and Report to Niti with a list of caveats that all parties agreed would be resolved in the future and risk further iterations of Niti approval or they could loop back and adjust the MPA ASAP, and ensure a squeaky clean DD Report on the revised MPA goes to Niti - making it more likely that there would be a final and unambiguous green light. It also sounds like they think the MPA alterations and the extra DD work will see the completed DD Report go to Niti at the same time as a report with caveats would have - hence they say no further delays to Niti. This is positive because the partners seem to feel that a redraft by the lawyers and a re-review by the consultants can be done is short order. It also shows that our Indian partners are willing to fang out further funds immediately to the lawyers and consultants in order to get this improved outcome.

All in all that speaks of continued commitment rather than any sort of reluctance.

I also like the specificity of the tracking of items in the SOW and planning timelines. This sounds to me like everyone concerned is now working from a well defined roadmap and schedule and when circumstances change, instead of sweeping it under the rug, there is a clear statement of revised sequencing, deadlines or tasks. That speaks of a well managed and active process rather than a wishy washy loosey goosey process that the Troll Army keeps telling us we have.

Nothing here to make me lose heart.

GLTAH.