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|January 23, 1998||
Names of new members on VSNL board recommendedEicher Goodearth Chairman Subodh Bhargava, Infosys Technologies Chairman and Managing Director N R Narayana Moorthy, Confederation of Indian Industries Secretary-General Tarun Das and management consultant Ashok Wadhwa have been recommended for induction on the board of directors of the Videsh Sanchar Nigam Limited.
The board's recommendations have been sent to the appointments committee of the cabinet according to sources in the Department of Telecommunications.
If the cabinet clears the appointments, the four will join the board of India's international telecom carrier as non-executive directors.
Two more full-time directors to handle the finance and technical (or network) functions are also expected to join the Rs 53-billion company's board soon.
The interviews of candidates to the posts have been held. This will take the total number of directors to 11 from the current five.
The board is authorised to induct 12 members.
Apart from CMD B K Syngal, the VSNL board has two full-time directors: Amitabh Kumar, director (operations) and R K Gupta, director (development). Two directors, representing the Department of Telecommunications, S A Tirmizi and B R Khurana, are also on the board.
The reconstitution of its board is important for VSNL to take full advantage of its 'Navratna' status, which grants it freedom in administrative, operational and investment decisions.
Sources say the cabinet committee may clear the appointments - despite the caretaker status of the government - in view of VSNL's impending GDR issue worth about $200 million.
- Compiled from the Indian media
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