I am not a member of the Wikimedia India Chapter although I am very much interested in seeing it function as a mature organization. I suppose that Wikimedia Chapters from around the world have evolved a set of best practices and have ensured that these are shared somewhere. These ideas will probably make the requirements of chapters a little more than just the minimum legal requirements involved in maintaining the status of a legal entity according to the laws of the lands in which the chapters operate. 

I raise this point as a rank outsider because there is a claim in a recent project proposal that it has been "endorsed" by the Wikimedia India Chapter. My expectation then is that this has been given due diligence, discussed by all members and the summary/minutes/transcripts made public. Even ideas on Wikipedia that do not involve any money go through a greater amount of (not to mention transparent) discussion than what we see here and it seems to me that some of these basic discussion procedures that we take for granted as part of the spirit of Wikipedia should be compulsory for organizations associated with the WMF.
https://meta.wikimedia.org/wiki/Grants_talk:PEG/Sujay25/Wikipedia_Treks_Kalindi_Khal#Organization