Mike replied to my queries on setting up of Mobile Monday. He said it involves no formal process and it is as simple as setting a wiki/blog and getting interested people to meetup :). So we (Rajiv& me) have started work on that front and have created a mobile monday bangalore yahoo group, register here if you are interested. We are currently figuring out when & where to meet and also what to do in the first meet.
Mobile Monday started as a Mobility BoF and went one to get christened as Mobile Monday. To learn more about how it started in SV, check out the archives of mobilemonday. The first Mobile Monday started in Finland and has been running very successfully. Our objective of having a local Mobile Monday is very simillar, to form a community of people interested in mobile related developments.
In India mobile industry has seen a phenomenal growth and lot of that has been in the area of mobile content but the promise of mobile is much much larger than the content business. It is such new interesting business, technologies and the latest developing trends that would be most interesting to discuss.
mtrajan.com 
Thanks man, i agree
So much spam (