EXHIBIT 1
(VSNL LOGO)
Rishabh Nath Aditya
Assistant Company Secretary
HQ/CS/CL.24B/10838
6 July 2004
Sir,
SUB: QUARTERLY COMPLIANCE AS ON 30 JUNE 2004
In accordance with the Clause 35 and Clause 49 of the Listing Agreement
please find attached herewith the following:
a) Shareholding Pattern of VSNL as on 30 June 2004 (Attach "A").
b) Quarterly Compliance Report on Corporate Governance for the quarter
ended 30 June 2004 (Attach "B").
Thanking you,
Yours faithfully,
For Videsh Sanchar Nigam Limited
R.N. Aditya
Asst. Company Secretary
To :
1) Security Code 23624, The Stock Exchange, Mumbai. Fax No.(22) 2722061,
2721072.
2) Security Code 32149, The Secretary, Calcutta Stock Exchange Assn. Ltd, Fax
No.(33)2202514/2283724.
3) Security Code 5251, The Asst. Manager (Listing), National Stock Exchange of
India Limited. Fax Nos.: (22) 6598237/38.
4) National Securities Depository Ltd. Fax Nos. : 497 29 93.
5) Mr. Vijay Bhojwani, The Bank of New York. Fax No.204 49 42.
6) Sharepro Services. Fax No. 2837 5646
7) Marc H. Iyeki,Director, New York Stock Exchange, Fax No: (212) 656-5071 /72
/ Madhu Kannan, Managing Director, New York Stock Exchange, Fax No: (212)
265-2016
8) Mr. Hitendra Patil, Vice President (Operations) Central Depository Services
(India) Limited. Fax : 2267 3199.
9) Ms. Tarni, for SEC filing requirements, Fax 1195
VIDESH SANCHAR NIGAM LIMITED
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SHAREHOLDING PATTERN AS ON 30-JUN-04
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Sr. No. Category HOLDING
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NO. OF SHARES PERCENTAGE
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A. PROMOTER'S HOLDING
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1 Promoters
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Indian Promoters 207247382 72.72
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Foreign Promoters 0 0.00
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2 Persons acting in concert 0 0.00
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SUB -TOTAL 207247382 72.72
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B. NON-PROMOTERS HOLDING
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3 Institutional Investors
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a. Mutual Funds and UTI 273432 0.10
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b. Banks, Financial Institutions, Insurance Companies (Central/ 26653245 9.35
State Govt. Institutions/Non-Government Institutions)
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c. FIIs 2315928 0.81
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SUB -TOTAL 29242605 10.26
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4 Others
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a. Private Corporate Bodies 1266210 0.44
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b. Indian Public 10265364 3.60
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c. NRIs/OCBs 138366 0.05
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d. Any other
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i ADR 36837838 12.93
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ii In transit (NSDL) 2235 0.00
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SUB TOTAL 48510013 17.02
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GRAND TOTAL 285000000 100.00
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TOTAL FOREIGN HOLDINGS
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SR. NO. CATEGORY HOLDING
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NO. OF SHARES PERCENTAGE
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1 FIIs 2315928 0.81
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2 NRIs/OCBs 138366 0.05
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3 ADR 36837838 12.93
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TOTAL 39292132 13.79
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VIDESH SANCHAR NIGAM LIMITED
DISTRIBUTION OF SHAREHOLDING ENTITIES / PERSONS HOLDING MORE THAN 1% OF
PAID UP CAPITAL AS ON 30 JUNE 2004 AS PER CLAUSE 35 OF LISTING AGREEMENT
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SR. NO. CATEGORY NAME HOLDING
--------------------------------
NO. OF SHARES PERCENTAGE
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A PROMOTER'S HOLDING
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1 Indian Promoters Panatone Finvest Limited (an 128250000 45.00
acquisition vehicle floated by the
Tata group)
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Central Govt.Including Nominees of 74446885 26.12
President of India
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TATA SONS LIMITED 4494497 1.58
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TATA INVESTMENT CORPORATION LTD 56000 0.02
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2 Persons acting in Concert
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SUB TOTAL 207247382 72.72
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B NON PROMOTERS HOLDING
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3 INSTITUTIONAL INVESTORS
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a Mutual Funds & UTI
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b Financial Institutions
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Life Insurance Corporation of India
Limited 18793214 6.59
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c 0.00
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SUB-TOTAL 18793214 6.59
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4 OTHERS
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a Private Corporate Bodies
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b Any other (please specify) The Bank of New York (ADR) 36837838 12.93
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SUB-TOTAL 36837838 12.93
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GRAND TOTAL 262878434 92.24
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Quarterly Compliance Report on Corporate Governance
Name of the Company : VIDESH SANCHAR NIGAM LIMITED
Quarter ending on : 30 JUNE 2004
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Particulars Clause of Compliance Remarks
Listing status
Agreement (Yes/No)
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1. 2. 3. 4.
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Board of Directors 49 I Yes As of 30 June 2004, VSNL had a total of twelve
Directors, out of whom two are Executive Directors
and ten are non-executive Directors including the
Chairman. There were four independent Directors.
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Audit Committee 49 II Yes The Audit Committee of VSNL consists of five members
with all the Directors being non-executive and two
of them being independent with one of independent
Directors being its Chairman.
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Shareholders/Investors 49 VI(C) Yes Investors Grievance Committee as required under
Grievance Committee Clause 49 is in place under the Chairmanship of a
non-executive Director.
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Remuneration of Directors 49 III Yes The non-executive Directors on the Board of VSNL are
paid only sitting fees as per the applicable
provisions of the Companies Act, 1956. The
Government Directors do not accept sitting fees.
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Board Procedures 49 IV Yes
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Management 49 V Yes
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Shareholders 49 VI Yes
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Report on Corporate 49 VII Yes
Governance
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Satish Ranade
Company Secretary &
Vice Precedent (Legal)