Twenty Fifth Annual Report 2010-11 MAHANAGAR TELEPHONE NIGAM LIMITED (A Nav Ratna Company) 1MTNL MISSION OF MAHANAGAR TELEPHONE NIGAM LIMITED “To provide in its area of operation, in a leading way, world class telecom services which are demanded, keeping always the customer's delight as its aim, so that it continues to be the premier Indian Telecom Company’.MTNL 10. 11 12. 13, 14, CONTENTS Page No. Board of Directors 4 Statutory Details 5 Notice & Notes 68 Directors’ Report 9-21 Corporate Governance Report 22-38 Management Discussion & Analysis 39-42 Auditors’ Report 43-59 ‘Annual Accounts (Balance Sheet, Profit & Loss Account, 60-110 Consolidated Balance Sheet, Profit & Loss Account & Cash Flow Statement) Annexure to Directors’ Report-Addendum to Directors’ Report 2010-11. 111-118 Comments of Statutory Auditors & Management replies thereto Annexure to Directors’ Report - Comments of CRAG 119-122 Statements Pursuant to Section 212 of the Companies Act, 1956 123-124 Relating to subsidiary companies Millennium Telecom Limited - Directors’ Report, Auditors’ Report, 125-143, Balance Sheet, Cash Flow Statement & Comments of C&AG. Mahanagar Telephone (Mauritius) Limited 144-166 Auditors’ Report, Balance Sheet Proxy & Admission Forms 167