1987
 
 - The Company was incorporated on 23rd December as a private limited
 company and was converted into a public limited company on 12th
 September, 1991.  It was promoted by Manoj Tirodkar, G.R.  Tirodkar
 and
 Fritz D'silva.
 
 - The Company manufactured telecommunication products.  It extended
 its
 range of products to include fax machines, modern key telephone
 systems, wireless mobile telephone systems, V-Band Viax instant
 access
 communication systems etc.
 
 - The Company undertook distribution and servicing of
 telecommunication
 products.  Subsequently, the company entered into tie-ups with Tata
 Keltron Ltd., India Telecomp Ltd. and internationally with V-Band
 Corporation USA, Lane Telecommunication Ltd. UK etc.  Whole range of
 sophisticated instruments were introduced.
 
 - The Company set up seven service centres all over the countries,
 three in Mumbai, one each in Delhi, Bangalore, Chennai and Nagpur.
 
 - The company proposes to have modern testing equipments to test the
 printed circuit boards.  Equipments such as PCB diagnostic
 equipments,
 LCR sortester, distortion meter and level meter etc.  were procured.
 
 1993
 
 - 12,00,000 No. of equity shares of Rs 10 each issued to promoters,
 directors, their relatives etc.  18,00,000 No. of equity shares of
 Rs
 10 each were then issued at par in April 1992 of which 90,000 shares
 reserved for allotment on preferential basis to employees.  Balance
 17,10,000 shares issued.
 
 1994
 
 - During April-May, the company issued 17,06,250-15% secured fully
 convertible debentures of Rs 35 each for cash at par on Rights basis
 in
 proportion 1 deb: 2 equity shares held.  Another 28,95,000 - 15%
 debentures of Rs 40 each were issued through the prospectus as
 follows:
 
 - (i) 18,71,250 debentures to promoters, directors etc. on
 preferential
 basis; (ii) 2,50,000 debentures to ICICI on firm basis.  Of the
 remaining 50,000 bedentures were issued on preferential basis to
 employees.  Balance 7,23,750 debentures were issued to the public.
 
 - Part A of Rs 10 of each debenture was converted into 1 equity
 share
 of Rs 10 each after 6 months from date of allotment.  Accordingly
 46,01,250 shares allotted.
 
 - Balance Rs 30 (Rs 25 in case of Rights issue) was converted into 1
 equity share of Rs 20 (Rs 15 in case of Rights issue) after 17 1/2
 months from date of allotment of debentures.
 
 - On 10th October, the company issued 70,00,000 warrants to
 promoters,
 their friends and associates companies.  Warrantholders exercised
 their
 right to convert these into 70,00,000 No. of equity shares at a
 price
 of Rs 50 per share.
 
 1996
 
 - 2,00,000-17.5% cumulative convertible preference shares of Rs 100
 each were allotted during the year on private placement with Bajaj
 Auto
 Ltd.  These have a maturity period of 18 months.
 
 - International Global Tele-Systems Ltd., (IGTL) is a subsidiary of
 the
 Company.  Mauritius and Elber Trading Pvt. Ltd. is a subsidiary of
 IGTL.
 
 1997
 
 - The Company made foray into software development and Export.  The
 company started executing I-Trade CommNet and Logistics Tracking
 System
 (LTS) projects.  The I-Trade CommNet aims to establish electronic
 exchange of information and documents which is currently being
 exchanged manually amongst the entities of cargo community in India
 by
 using Electronic Data Interchange (EDI) technology.
 
 - The Company issued FCCBs worth Swiss Francs (SFr) 60,000,000 and
 out
 of these the company had received FECBs worth SFr 2,30,000 for
 conversion into equity shares.
 
 - Accordingly SFr 2,00,000 were converted into 64026 shares on
 30.6.1997 and another SFr 2,00,000 were converted into 64026 No.  of
 equity shares on 11.7.1997.  In addition 73,630 No. of equity shares
 were issued at a premium of Rs 79 per share on conversion SFr
 10,000.
 
 - On 29th August, 1,28,052 No. of equity shares were allotted at a
 premium of Rs 79 per share on conversion of SFr 10,000.  Another
 3201
 No. of equity shares at a premium of Rs 79 per share were issued on
 conversion of SFr 10,000.
 
 - Global Tele-Systems Ltd. (GTL), has signed an agreement with
 National
 Securities Depository Ltd. (NSDL), to get its securities admitted
 for
 dematerialisation.
 
 - GTL has signed Bipartite Agreement with NSDL to the effect that
 the
 shares of GTL would be available for dematerialisation process and
 first private sector telecom company to do so.  With this, the
 shareholders of GTL would be in a position to hold equity shares in
 electronic firm.
 
 - The company has strategic alliances with Samsung Corporation and
 Muratec for their range of fax machines, Northern Telecom for its
 range
 of PBX, Ericsson for cellular phones and turnkey solutions, Nokia
 for
 turnkey cellular projects, Maxon for cordless phones and Alcatel for
 turnkey projects and fibre-optic solutions.
 
 - Global Telesystems Ltd has tied up with Iscor of the US to provide
 advanced integration products like fax systems, E-mail equipment and
 electronic data interchange (EDI) in India.
 
 - The company has also been awarded a contract from Tata
 Communications
 for running a quality audit of its telecom towers for the cellular
 network in the Andhra Pradesh circle.
 
 1998
 
 - Global Tele-Systems Ltd has introduced for the first time in India
 the GC 455, a two-line cordless phone.
 
 - Global Tele-Systems has also launched its GC 477 cordless phone
 with
 digital answering machine.  It has two voice mail-boxes for
 separating
 personal messages and business messages, 25-channel auto selection,
 intercom, and voice day/time announcement at the beginning of each
 message.
 
 - GTSL had recently tied up with the US-based GE Information
 Systems,
 under which the companies will together develop a source code, on
 which
 applications would be developed and exported.
 
 - The company has entered into alliances with AFNET, which will
 distribute all of AFNET's traffic into India, and with UNIFI
 Communications to distribute fax traffic.
 
 - In June, the Company placed privately 5,000,000 Equity Shares of
 Rs.
 10/- each for cash, at a premium of Rs. 95/- per share.
 
 - Mr. Sadanand D. Patil and Prof. Sudhakar C. Sahasrabudhe were
 appointed effective from 5th September, and Mr, Dipak K. Poddar was
 appointed on 27th October, as Additional Directors.  
 
 - During the year under review, 2,00,000 Cumulative Redeemable
 Preference Shares of Rs. 100/-each aggregating Rs. 2 Crores which
 were
 placed privately with Bajaj Auto Ltd. had been redeemed at par.
 
 1999
 
 - Global Tele-Systems, which is a part of the Rs 500-crore Global
 group, has tied up with UK-based Silverslate International Ltd, for
 its
 software and Internet business group for providing specialised
 telecom
 solutions.
 
 - The Mumbai-based Global Tele-Systems Ltd has entered into a
 strategic
 partnership with the US-based General Electric's General Electric
 Information Services (GEIS).
 
 - Microsoft Corporation of USA has recently certified Global
 Telesystems Ltd (GTL) as competence centre on Internet and
 e-commerce
 businesses.  GTL has thus become the only company in India to have
 been
 accorded this status.
 
 - The Company has issued 2,00,000 Cumulative Redeemable Preference
 Shares of Rs. 100/- each aggregating Rs. 2.00 crores.  These
 Preference
 Shares have been placed privately.
 
 2000
 
 - The Company has allotted 4981295 No. of equity shares at a premium
 to
 FCCB holders consequent upon exercise of right of option for
 conversion
 of FCCBs worth Swiss Francs 1070000.
 
 - The Company has signed a MoU with Vysya Bank Ltd. in connection
 with
 utilisation by Vysya Bank Ltd. of e-commerce payments processing
 infrastructure of the company.
 
 - The company is launching a state-of-the-art call centre at Mahape
 in
 Navi Mumbai in October for servicing large off-shore firms.
 
 - The International Global Tele-Systems Ltd. of Mauritius, the
 wholly-owned subsidiary of Global Tele-Systems, is acquiring an
 undisclosed equity stake in The Voice Company based in the UK.
 
 - IGTL has entered into a joint venture with Al-Nasser LLC in the
 Middle East for engineering services. It has also acquired a
 strategic
 stake in an international telecom value added service provider i.e.
 The
 Voice Company Pte. Ltd.
 
 - Oracle Software India Ltd., the wholly owned subsidiary of the
 Oracle
 Corporation of the US entered into a strategic tie-up with the
 Global
 Tele-Systems Ltd. for addressing the high growth application service
 provider market in the country.
 
 - The Company has allotted 35,000 No. of equity shares under ESOP
 upon
 exercise of right of option for conversion of warrants.
 
 - The Company has proposed to acquire an unlisted company Global
 Electronic Commerce Services Ltd. in its bid to create the largest
 e-commerce entity in the country.
 
 - The Company allotted 30,496 No. of equity shares of Rs 10 each for
 cash at a premium in terms of the employees stock option scheme upon
 exercise of right of conversion of warrants into equity shares by
 the
 employees.
 
 - The Company had acquired two software companies - Thermax Systems
 and
 Software, an associate of Thermax group and Fine Infotech, a company
 focused on banking products - in a Rs.15 crore all stock deal.
 
 - Global Tele Systems has allotted 85,000 equity share of Rs.10 each
 for cash at a premium in terms of the employees stock option scheme
 upon exercise of right of option or conversion of warrants into
 equity
 shares issued under the scheme into equity shares.
 
 - The Company allotted 83474 No. of equity shares of face value of
 Rs.
 10.
 
 - The Company has entered into an MOU for a joint venture with Enron
 to
 build a state-of-the-art fibre optic broadband network.
 
 - The Company received a Silver Plaque from the Institute of
 Chartered
 Accountants of India for the Best Presented Accounts for entries
 received from non financial private sector companies for the year
 1998-99.
 
 - Mr. Manoj G. Tirodkar, Executive Vice Chairman, became the first
 Indian to win the World Young Business Achiever Award for the year
 2000
 in Orlando, USA, from Worldcom, USA.
 
 - The Company has received letter from T. Rowe Price Associates,
 Inc.,
 for acquisition of shares of the company.  Shareholding of T. Rowe
 Price Associates Inc. in the company on behalf of itself and its
 subsidiaries, has gone up to 38,26,675 shares, 8.79% of te paid up
 equity share capital of the company.
 
 - Amalgamation of Global Electronic Commerce Services Ltd. with the
 company.  will be at the ratio of one equity share of GTL (Rs 10
 each)
 for every six of GECS.
 
 - The Board of Global Electronic Services and Gloal Tele-Systems
 have
 approved a share-swap ratio of 6:1 after the merger of the two
 companies.
 
 - Enron India has tied up with Global Tele-Systems and Maharashtra
 State Electricity Board for connecting major towns in the state
 through
 optical fibre network using power transmission lines.
 
 - Global Tele-systems is all set to acquire 100 per cent equity of
 Thermax Systems & Software, an infotech company belonging to the
 Pune-based Thermax group.
 
 - Issue of Allotment of 1,00,000 No. of equity shares of the
 shareholders of Thermax Systems & Software Ltd. in terms of Scheme
 of
 Acquisition of the bsiness of the company.
 
 - The Company has 856,375 outstanding warrants issued its employees
 as
 of September 30, under ESOP scheme.
 
 - The Company has signed a `professional services agreement' with
 Cisco
 System Inc., world leader in the networking technology for the
 Internet.
 
 2001
 
 - The Company has entered into MoUs with several leading banks for
 providing ASP and Technology and software Support, and activities
 related to that continue un-affected.
 
 - Allotment of up to 2,65,28,600 equity shares to the shareholders
 of
 Global Electronic Commerce Services Ltd. on amalgamation with the
 company.
 
 2002
 
 -GTL has won the Goldeb Peacock Award for Excellence in Corporate
 Governance in the private sector category.
 
 -GTL Board has approved for the allotment of 5000 warrants to the
 eligible
 employees under the Employee Stock Option Scheme.
 
 2003
 
 -GTL Board has approved for the scheme of merger of Redington
 Mauritius Ltd
 with the company.
 
 -The board of directors of GTL have approved for the proposal for
 issue of
 fresh equity of 14.3cr shares at the price of Rs.150 per share to the
 Chanrais.
 
 -Mr.Vijay N Paranjpe has relinquished officer as whole time director
 and
 director of the company.
 
 -GTL Ltd and Tata Teleservices has been shortlisted by Andhra Pradesh
 government
 to manage the information assets created by state as part of its
 e-governance initiatives.
 
 -GTL Ltd has entered into partnering agreement with GBS. LLC premier
 Enterprise Wide
 Outsource provider based in the US.
 
 
 2004
 
 -GTL Ltd appoints Dr Michael Clark as the Chief Executive Officer wef
 July 3, 2004.
 
 - Alcatel partners with GTL for enterprises business in South Asia
 
 2005
 
 -Nortel N power Partner of the Year 2005 Award from Nortel Networks 
   
 -Most Significant Competition Breakthrough 2005 Award from Nortel
 Networks 
  
 - Best Process Compliance Year 2005 Award from Nortel Networks 
  
 
 
 2006
 
 -GTL Ltd has appointed Mr Manoj G Tirodkar as Chairman & Managing
 Director (CMD) of the Company,
 
 -Acquisition of UK Based Genesis Consultancy 
  
 - Listing of GTL Infrastructure Limited, a spin off from GTL as part
 of the restructuring process 
  
 -Opens office in Thailand 
  
 -Bags first project in Africa 
  
 -Bags BSR Award for Corporate Governance - Business for Social
 Responsibility 
  
 -President’s award to Mr. Charudutta Jadhav, a visually impaired GTL
 employee 
  
 -APAC Partner of the Year 2006 Award for Oracle E-Business Suite
 Special Edition 
  
 -The Best On time Renewal Partner in the Year 2006 Award from Oracle
 Support Services 
 
 2007
 
 -GTL hives off Enterprise Networks and Managed Services business to
 Orange Business Services, an arm of France Telecom. 
  
 -GTL wins the prestigious Golden Peacock Global Award for Corporate
 Governance 
  
 -GTL enters into a strategic alliance with Ericsson UK, to offer
 Managed Network Infrastrucutre Services to customers in UK and
 Ireland 
  
 -GTL International, a 100% international subsidiary of GTL, acquires
 SCS, a Network Deployment Company in USA 
  
 -GTL successfully completes the buy back of shares 
  
 -GTL International, a 100% international subsidiary of GTL, acquires
 ADA Cellworks, the leading Network Planning and Optimization player
 in Asia Pac 
 
 2008
 
 -GTL Wins Golden Peacock National Training Award 2008.  
   
 -GTL receives the prestigious Greentech Environment Excellence Silver
 Award 2008. 
   
 -GTL forms Strategic Alliance with Vanu Inc to Conduct Shared Active
 Infrastructure Field Trials in India. 
  
  -GTL wins Outstanding Contributor to Corporate Responsibility Award
 from Nokia-Siemens. 
   
 -GTL becomes No. 1 Telecom Turnkey Company of the year in V&D 100
 Survey. 
 
 2009
 
 -GTL features amongst top 10 companies in the S&P ESG Index 2009.  
 -GTL wins the ‘Performance Excellence” Trophy from IMC Ramkrishna
 Bajaj National Quality Award.  
 -GTL entered into a “Global Supplier Co-operation Agreement” with
 Huawei for worldwide co-operation in Network Services.  
 -GTL extends its capabilities to serve power utilities, bags Rs 324
 Cr order from Maharashtra State Electricity Distribution Co Ltd
 (MSEDCL).