Awaiting a “proper proposal
Countering the allegation that Bombay Parsi Punchayet (BPP)trustees Anahita Desai, Hoshang Jal and Adil Malia are against converting leave and license (L&L) agreements to tenancy, Jal has written to former BPP chairman Dinshaw Mehta stating "for the past several months a narrative is being spread that Anahita, Adil and I are against the idea of converting L&L to tenancy. Who has ever told you that we are against the idea?…
"A proper written proposal for evaluation, has been requested for several months on this issue on granting tenancy to all licensees. The one line oral proposal that has been put forward has been shifting and changing each time that it has been presented.
"These discussions have raised several doubts and queries. There are tax issues, issues of protection of the Parsi only covenant…there is the issue of the charity status of the BPP, there are charity commissioner permissions, there are reduced revenue issues, there are major queries re cash flow challenges if the returnable security deposit of over Rs 78 crores (USD 9.3 million)will need to be returned, or if the said deposits are converted to donations as is being proposed, the legal consequences to such a move …..and many, many such issues.
"Queries have been raised in writing quoting sections and provisions of the law along with judicial precedents, to the erswhile chairperson (which have been minuted).
"If they have all been sorted out then I wonder why has a written proposal not yet been formally presented to the board?
"As trustees we have a fiduciary responsibilities cast on us and we are committed to fulfilling the same.
"We as trustees are waiting to take a calm, learned and responsible view on the issue after knowing and evaluating all the facts, figures and legal consequences.
"It would be unethical as a trustee to give any lofty unexecutable promises to beneficiaries and then run helter-skelter to find escape routes.
"Rest assured sir, this is not a power game. It is a very critical issue that is fraught with serious consequences. We will support all that is right, for the protection of our trust and its beneficiaries based on the wishes of the settlors as a prudent trustee would be expected to take.”
(Text taken from a WhatsApp group text uploaded today (January 18) and verified as bona fide by Jal. Matter slightly edited for stylistic purposes and brevity)
Photo from left
Desai, Malia and Jal
