“Entitled to enter”

We have read Prof Hoshang Moogat’s response to my letter ("Entitled to enter,” Readers’ Forum, Parsiana, January 21, 2012) and can understand his displeasure with us as he still does not seem to understand the issue fully. It is clear that he likes to throw his weight around through his unsubstantiated and baseless allegations.

We would like to once more clearly and categorically state that we have never asked HSBC, which is the custodian trustee of the Rustomjee Master Trust Funds, to transfer any funds to us. For your information, in 2009 we had sent, by way of a letter, suggestions to HSBC to invest some funds in India. No aspersions were cast on their investment strategy; it reflected our concern over the trust moneys HSBC had lost, almost 30 percent, in the investments made by them in 2008.

At that time the Indian economy was one of the fastest growing in the world and the rate of return was among the highest. International financial institutions that flocked to India with their investments and capital markets, both equity and debt, had reached higher levels than anywhere else in the world. Even when the global meltdown took place, India was probably the least affected. In fact, our response shows our sincerity and dedication to manage the trust in good faith. It was only a suggestion given by us under the provision of the trust deed clause 3(d), without any intention to cause anyone hurt.

The Rustomjee Master Trust Funds is only one of the constituent funds managed by the Bulsar Parsi Anjuman Trust Funds and the Bulsar Parsi Anjuman (BPA) is registered with the Charity Commissioner, the Income Tax department, as well as with the Home Ministry of India (for Foreign Contribution Regulation Act status). This unpleasant situation has arisen because Moogat wanted us to route all the correspondence through him, which we had denied him earlier. We are fully aware of our responsibilities and authority as trustees of the BPA to manage all the trusts under our care.

We hereby request Moogat to work towards the smooth functioning of the trust, as his unnecessary and unwanted allegations will not serve the objects of the trust nor the wishes of the benefactor. Kindly also note that this is our last explanation to Parsiana in this regard, as we have no reason to discuss this issue publicly any further.

Regarding the Goolrookh Gupta case, we do not want to comment as the matter is still sub judice, and pending in the High Court of Gujarat. Moogat is entitled to his personal opinion but it is clear that he has scant knowledge of the facts of this case. One cannot manage a community trust based on someone’s personal opinion.

It is also unfortunate that Moogat has referred to Khojeste Mistree, a respected religious scholar and trustee of the Bombay Parsi Punchayet as "our self-proclaimed messiah.” Mistree is internationally recognized as a formidable scholar of our religion.

SAM R. CHOTHIA

Managing Trustee

Bulsar Parsi Anjuman Trust Funds

Bulsar