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Network Ltd. Company History and Annual Growth Details

YEAR EVENTS
1989 - The Company was Incorporated on 25th January, in the name of
Network India, Ltd. and the name was changed to Network Ltd.,
effective 9th November, 1990.

- Network Ltd., was promoted by Shiv Nadar and A.K. Dang. In
accordance with the scheme of amalgamation, 51,00,000 No. of
equity shares of Rs.10 each in the Company were allotted to the
erstwhile shareholders of ICNL. With this, ICNL and INSL stood
dissolved without winding up.

- The Company's object is to manufacture Electronic Type Writers,
(ETWs) Word Processors, display modules, ribbons, medical
diagnostic equipments like ultrasonic scanners etc.

- Under the scheme of arrangement and amalgamation, Network Ltd.,
acquired the whole business together with the assets and
liabilities of Indian Communications Network Ltd. (ICNL), and its
subsidiary Indian Network Systems Ltd. (INSL) effective from 1st
January, as per the approval received from the High Court of
Delhi. The amalgamation became effective from 31st March, 1990.

- The installed capacity of ETW plant increased from 6000 units in
1987 to 25,000 units in 1988-89. The installed capacity of
ribbons increased from 8 lakh numbers of cartridges in 1988-99 to
16 lakh nos. in 1990-91, at its facility at B-73, Sector 2,
Noida, U.P.

- The Company produces 75 different models priced from a low end
product to high end work processor. These products use a range
of displays that vary from standard on line liquid Crystal
display to full page display. These products provide facilities
to operate in a bilingual environment whether in Hindi Gujarati,
Marathi or Russian. The versatility of the product can be
enhanced by adding a floppy disk drive and computer interface.

- The Company has collaboration agreement with Canon Inc., Japan
for licence and technology to manufacture ETWs, interface units
and other optional apparatuses using parts, accessories and
consumables. In return for the services rendered, an initial sum
of 30 million Japanese Yen was paid and a royalty was payable at
the rate of 3% of the net ex-factory sale value of all licensed
products manufactured by the Company for a period of 5 years
effective 1st April, 1987.

- It also entered into a technology transfer agreement with Medison
Co. Ltd., S. Korea for technical information and patents relating
to the contract products diagnostic ie., ultrasound scanners. In
return, the Company was to pay a technical know how fee of US
$2,00,000 (subject to Indian taxes) in three equal instalments
and an annual royalty of 3% of the net ex-factory selling value
for a period of 5 years from the date of commencement of
commercial production.

- The Company was also in an advanced stage of collaboration with
Canon Inc., Japan for the manufacture of Facsimile machines and
newly designed Cannon ETWs and Word Processors. Terms of
collaboration as approved by RBI are a lumpsum technical know-how
fee of 40 million Japanese Yen, 5% royalty on domestic sales and
exports for a period of 5 years.

- During the year, the new XP series of Electronic Type Writers
were launched which were designed and developed indigenously.
Also, the Company's new plant for ribbon cartridges went into
full scale production.

- The Company signed a Distributorship agreement with Picker
International, USA., a fully owned subsidiary of General Electric
Company of U.K. for exclusive sale, installation and service
Medical Diagnostic Imaging Equipment manufactured by them.

- The Company has also an agreement with Robert Bosch GmbH, Germany
for sale of computerised controls and programmable controls.

- The Company proposed to float a 100% subsidiary company called
'Network Finliase Ltd.' to mobilise funds to fuel growth.

1990 - The Company proposed to open an office at Moscow with the
approval received from the Russian Government authorities.

- A new range of ETWs under the brand name 'Lasernet' were
launched.

- 7 shares subscribed for by signatories to the Memorandum of
Association. 51,00,000 shares allotted without payment in cash
to shareholders of Indian communication Network, Ltd. as per
scheme of Amalgamation.

1991 - The Company launched 'Nevus' an ultrasound diagnostic scanner at
its facility located at NOIDA. This was manufactured under
technical collaboration with Medison Co. Ltd., S. Korea.

- In addition, RBI's permission was obtained to enter into
collaboration with Canon Inc., Japan for the manufacture of
Facsimile machines and newly designed Canon electronic typewriter
and word processors.

- The Company launched a range of five facsimile machines to
further strengthen its office automation market.

- 13,44,000 shares allotted (prem. Rs.12.50 per share) in part
conversion of debs.

1992 - Three additional models of electronic typrwriters under a new
brand name 'Lasernet' were launched. With extensive effort an
indigenisation, the company proposed to introduce a special low
priced electronic typewriter.

- During January-February, the Company issued 6,72,000 - 15%
secured redeemable partly convertible debentures of Rs.125 each
of which 33,600 debentures were offered to the employees on
preferential allotment basis (only 16,550 debentures taken up).

- The remaining 6,38,400 debentures along with 17,050 debentures
not taken up under employees quota were offered to the public
(all were taken up).

- Rs.45 of the face value of each debenture was to be converted
into two equity shares of Rs.10 each at a prem. of Rs.12.50 per
share on the date of allotment of debentures. Accordingly
13,44,000 shares were allotted on 26.3.1992.

- The remaining Rs.80 of the face value of each debenture was to be
redeemed at par in three annual instalments at the end of the
6th, 7th and 8th year respectively from the date of allotment of
debentures.

1993 - Office automation segment launched a range of high quality
computer printers. These machines incorporate the revoluntionary
bubble jet, printing technology.

- A high powered portable notebook computer with an in-built bubble
jet printer was also launched.

- The Company undertook to manufacture and sell Medical Diagnostic
Equipment such as Ultrasound Scanners at its existing facilities.

1994 - Canon QS series of electronic typewriters and faxes in alliance
with Col-Comp Inc., Taiwan were launched.

- Also the Company introduced Fresh N Air purifier an innovation in
cutting out air pollution at homes and offices. The Company
proposed to introduce new products in plain paper faxes and
non Impact printers.

- The Company proposed to enter into the Telecom Services areas
confering VSAT, cellular telephones, paging, video conferencing
and other such related areas.

- The Company entered into a joint venture agreement with Pieker
International Inc. of USA to form a company viz. Network Pieker
Ltd. for the manufacture and sale of diagnostic imaging systems
including CT Scanners and NRIs.

- The Company has 18 Regional offices in India, 70 dealers handling
ETWs and consumables and plans to expand it to 90 dealers.

2004

-Delists Shares from Delhi Stock Exchange

-Network Ltd has informed that the company's equity shares has been delisted from The Ahmedabad Stock Exchange Association Ltd wef March 31, 2004.

2007

-Network Ltd has appointed Mr. Vijay Kalra as an additional director of the Company w.e.f. January 10, 2007.

-Network Ltd has informed that the Company has signed an agreement with 'HANOWA LTD' of Switzerland as Sole Distributor for Watches in Indian Domestic Market.

2009

- Network Ltd has informed that Mr. G S Goyal has been appointed as an Additional Director of the Company w.e.f. June 30, 2009.

2010

- Network Ltd has appointed Mr. Aman Sawhney as an additional director of the company w.e.f. May 17, 2010. Mr. Sawhney is also the Manager of the Company u/s 2(24) of the Companies Act, 1956.
 
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