In a notice to the Bombay Stock Exchange, the company said that the board of director of the company will meet on November 14 to consider a scheme to set off the permanent diminution in the value of investments in the wholly owned subsidiary against securities premium account and convene an extraordinary general meeting of the company.
Videsh Sanchar Nigam (VSNL) is to set up Tata Indicom Chennai - Singapore submarine cable system.
In a notice to the Bombay Stock Exchange, the company said it is setting up a 3100 km submarine cable system between Chennai and Singapore.
The Tata Indicom Chennai-Singapore submarine cable system will have a system capacity of 5.12 terabits (1 Terabit =1000 GB). The cable will be lighted up within a year, that is by fourth quarter, 2004.
