So www.rajannarayan.com swears that the IGO will be *wholly owned* by readers, managed by professionals and supervised by a Board of Trustees of impeccable integrity.
RajanNarayan in the same breath also informs us that the business structure of the IGO will be a duly incorporated company, viz.- IGO Ltd. (i.e. a public limited company.) Under registration procedures, even the Memorandum and the Articles of Association of a proposed company need prior approval of the Registrar of Companies, just to ensure that the provisions therein are in tune with the Indian Companies Act, 1956. A company owned by readers? Perhaps. Managed by professionals? More likely. But supervised by a Board of Trustees? Bakwaas! Rajan's C.A. ought to have advised him that to achieve that noble object of having *Trustees* - a term that commonly conjures images of trustworthy individuals with a high standing in society - he ought to form a Trust, not a company. A company is *supervised* not by a Board of *Trustees* but a Board of Directors, who need not be ppl of any moral integrity, as Goenkars were reminded when the various Bank scams broke into the open. :-) Valmiki ########################################################################## # Send submissions for Goanet to [EMAIL PROTECTED] # # PLEASE remember to stay on-topic (related to Goa), and avoid top-posts # # More details on Goanet at http://joingoanet.shorturl.com/ # # Please keep your discussion/tone polite, to reflect respect to others # ##########################################################################
