MUMBAI: DEN Networks, on 11 March 2017, wrote to the National Stock Exchange and the Bombay Stock Exchange Limited about the conclusion of court-convened meeting.

It stated thus: "This is to inform you that, pursuant to an Order by the Principal Bench of the National Company Law Tribunal ("NCLT"), New Delhi, a Meeting of the Equity Shareholders/Secured Creditors and Unsecured Creditors of DEN Networks Limited ("DEN") has been conducted at PHD Chamber of Commerce, No. 4/2, Sin Institutional Area, August Kranti Marg, New Delhi- 110016 on Saturday, 11th March, 2017, for the purpose of considering and, if thought fit, approving with or without modification(s), the arrangement embodied in the Scheme of Arrangement of DEN or Transferor Company and Skynet Cable Network Private Limited ("SYKNET" or "Resulting Company"), through which Internet Service Provider (ISP) Business / Broadband Undertaking of DEN will demerge into SKYNET, a wholly owned subsidiary of DEN."

In the communique signed by DEN Networks' company secretary Jatin Mahajan, DEN added, "The NCLT has appointed Chairperson, Alternate Chairperson and Scrutinizer. The Scrutinizer shall submit results of voting/report to the Chairperson. Forthwith, the company shall submit the results to the Stock Exchanges and other applicable authorities."