meeting of the equity shareholders of ht media limited

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NOTICE - EQUITY SHAREHOLDERS

HT MEDIA LIMITED Registered Office : 18-20,KasturbaGandhiMarg,NewDelhi–110001,India

Tel. No. : +911166561234

CIN : L22121DL2002PLC117874

E-mail : [email protected]

MEETING OF THE EQUITY SHAREHOLDERS

OF

HT MEDIA LIMITED

(Convened pursuant to orders dated March 6, 2018 and April 13, 2018, passed by the Hon’ble National Company Law Tribunal, New Delhi Bench)

MEETING:

Day : Saturday

Date : June9,2018

Time : 11:00a.m.

Venue : SiriFortAuditorium-II,A-25,BalbirSaxenaMarg,SiriFortInstitutionalArea,GulmoharPark,NewDelhi-110049

E-VOTING:

Start Date and Time : From9.00a.m.(ServerTime)onMay10,2018(Thursday)

End Date and Time : Upto5.00p.m.(ServerTime)onJune8,2018(Friday)

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INDEX

S. No. Contents Page No.

1.Notice convening the meeting of Equity Shareholders (which includes Public Shareholders) ofHTMediaLimitedundertheprovisionsofSections230to232oftheCompaniesAct,2013readwithRule6oftheCompanies(Compromises,ArrangementsandAmalgamations)Rules,2016

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2.StatementunderSections230(3),232(1)& (2)and102of theCompaniesAct,2013 readwithRule6oftheCompanies(Compromises,ArrangementsandAmalgamations)Rules,2016

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3.

Annexure 1Copy of Scheme of Arrangement between HT Media Limited and Digicontent Limited and theirrespectiveshareholdersandcreditorsunderSections230to232readwithSection66andotherapplicableprovisionsoftheCompaniesAct,2013

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4.Annexure 2CopyoftheShareEntitlementRatioreportdatedAugust25,2017obtainedfromM/sJainJindal&Co.,CharteredAccountants

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5.Annexure 3CopyofFairnessOpiniondatedAugust25,2017,issuedbyFinshoreManagementServicesLimited,aSEBIRegistered(Category-I)MerchantBanker

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6.Annexure 4CopyofNoobjectionletterdatedDecember22,2017ofNationalStockExchangeofIndiaLimitedtoHTMediaLimited

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7.Annexure 5Copyof‘Noadverse’observationletterdatedDecember26,2017ofBSELimitedtoHTMediaLimited

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8.Annexure 6CopyofComplaintsReportdatedOctober24,2017,submittedbyHTMediaLimitedtoBSELimitedandtheNationalStockExchangeofIndiaLimited

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9.Annexure 7Copy of Report adopted by the Board of Directors of HT Media Limited in its meeting held onAugust25,2017,pursuanttotheprovisionsofSection232(2)(c)oftheCompaniesAct,2013

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10.

Annexure 8Copy of Report adopted by the Board of Directors of Digicontent Limited (formerly HT DigitalVentures Limited) in its meeting held on August 25, 2017, pursuant to the provisions ofSection232(2)(c)oftheCompaniesAct,2013

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11.Annexure 9CopyofsupplementaryunauditedfinancialstatementsofHTMediaLimitedfortheperiodendedonDecember31,2017

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12.Annexure 10CopyofsupplementaryunauditedfinancialstatementsofDigicontentLimitedfortheperiodendedonDecember31,2017

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13.

Annexure 11TheapplicableinformationofDigicontentLimitedintheformatspecifiedforAbridgedProspectusasprovidedinPartDofScheduleVIIIoftheSecuritiesandExchangeBoardofIndia(IssueofCapitalandDisclosureRequirements)Regulations,2009

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14. FormofProxy 133

15. AttendanceSlip 135

16. RouteMapforthevenueoftheMeeting 136

17. Communicationcontaininge-votingparticulars LooseLeaf

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BEFORE THE HON’BLE NATIONAL COMPANY LAW TRIBUNAL

NEW DELHI BENCH

COMPANY APPLICATION NO. (CAA) - 24 (ND) / 2018

InthematteroftheCompaniesAct,2013;

And

InthematterofSections230to232readwithSection66andotherapplicableprovisionsoftheCompaniesAct,2013;

And

In the matter of Scheme of Arrangementbetween HT Media Limited and DigicontentLimited (Formerly known as HT DigitalVentures Limited) and their respectiveshareholdersandcreditors.

HTMediaLimited,

A company incorporated under the provisions of theCompanies Act, 1956 and having its registered office at18-20,KasturbaGandhiMarg,NewDelhi–110001.

-----Applicant 1/ Demerged Company/HTML

NOTICE CONVENING THE MEETING OF THE EQUITY SHAREHOLDERS (WHICH INCLUDES PUBLIC

SHAREHOLDERS) OF HT MEDIA LIMITED

To,

The Equity Shareholders of HT Media Limited (HTML)

NOTICE is hereby given that pursuant to Order datedMarch 6, 2018 and April 13, 2018 (“Orders”), the Hon’bleNational Company Law Tribunal, New Delhi Bench hasdirectedameetingtobeheldofEquityShareholdersofHTMLforthepurposeofconsidering,andif thoughtfit,approvingwithorwithoutmodification(s),theSchemeofArrangementbetweenHTMLandDigicontentLimited(ResultingCompany)andtheirrespectiveshareholdersandcreditors.

In pursuance of the said Orders and as directed therein,further notice is hereby given that the meeting ofEquity Shareholders of HTML will be held at Siri FortAuditorium-II, A-25, Balbir Saxena Marg, Siri FortInstitutionalArea,GulmoharPark,NewDelhi-110049,onSaturday, June 9, 2018 at 11:00 a.m., at which time andplacethesaidEquityShareholdersarerequestedtoattend.

Atthemeeting,followingresolutionswillbeconsideredandifthoughtfit,bepassed,withorwithoutmodification(s):

“RESOLVED THAT pursuant to the provisions of Sections 230 to 232 read with Section 66 and other applicable provisions, if any, of the Companies Act, 2013, applicable rules and regulations made thereunder (including any statutory modification(s) or re-enactment(s) thereof for the time being in force), the Securities and Exchange Board of India’s Circular No. CFD/DIL3/CIR/2017/21 dated March 10, 2017, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as may be amended from time to time), No objection letter / observation letter dated December 22, 2017 and December 26, 2017 issued by National Stock Exchange

of India Limited and the BSE Limited, respectively, relevant provisions of the Memorandum and Articles of Association of the Company, and subject to sanction/approval(s) of National Company Law Tribunal (“Tribunal” or “NCLT”), and such other approvals, sanctions and permissions of other regulatory or government bodies/tribunals or institutions as may be applicable, and subject to such conditions and modification(s) as may be prescribed or imposed by NCLT or by any regulatory or other authorities, while granting such consents, approvals and permissions, which may be agreed to by the Board of Directors of the Company (hereinafter referred to as the “Board”), the Scheme of Arrangement between HT Media Limited (“HTML” or “Demerged Company”) and Digicontent Limited (“Resulting Company”) (presently wholly owned subsidiary company of HTML) and their respective shareholders and creditors (“Scheme”), which provides for demerger of ‘Entertainment & Digital Innovation Business’ of the Company and transfer and vesting thereof into the Resulting Company, a copy of which is enclosed with this Notice and placed before this Meeting and initialed by the Chairperson or the Alternate Chairperson of the Meeting, as the case may be, for the purpose of identification, be and is hereby approved.

RESOLVED FURTHER THAT the Board be and is hereby authorized to do all such acts, deeds, matters and things, as it may, in its absolute discretion deem requisite, desirable, appropriate or necessary to give effect to this resolution and effectively implement the Scheme and to accept such modifications, amendments, limitations and/or conditions, if any, which may be required and/or imposed by NCLT while sanctioning the Scheme or by any authorities under law, including passing of such accounting entries and/or making such adjustments in the books of accounts as considered necessary in giving effect to the Scheme, as the Board may deem fit and proper, and to settle any question, difficulty or doubt that may arise in respect of aforesaid without being required to seek any further consent or approval of the Equity Shareholders of Company or otherwise to the end and intent that they shall be deemed to have given their approval thereto expressly by the authority of this resolution.”

TAKE FURTHER NOTICEthattheEquityShareholdersmayattendandvoteat thesaidMeeting inpersonorbyproxyprovided that a proxy in the prescribed form, duly signedby themor theirauthorised representative, isdepositedatthe registered office of HTML at 18-20, Kasturba GandhiMarg, New Delhi – 110001, India, not later than 48 (fortyeight)hoursbeforethetimefixedfortheaforesaidMeeting.TheformofproxycanbeobtainedfreeofchargefromtheRegistered Office of HTML, on all working days (exceptSaturdays,Sundaysandpublicholidays)during10.00a.m.to4.00p.m.

TAKE FURTHER NOTICE that in compliance with theprovisionsof(i)Section230(4)readwithSection108oftheCompanies Act, 2013; (ii) Rule 6(3)(xi) of the Companies(Compromises, Arrangements and Amalgamations) Rules,2016; (iii) Rule 20 and other applicable provisions of theCompanies(ManagementandAdministration)Rules,2014;(iv) Regulation 44 and other applicable provisions of theSecuritiesandExchangeBoardofIndia(ListingObligationsand Disclosure Requirements) Regulations, 2015; and(v)CircularNo.CFD/DIL3/CIR/2017/21datedMarch10,2017issuedby theSecurities andExchangeBoardof India (as

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maybeamendedfromtimetotime),HTMLhasprovidedthefacilityofe-votingsoastoenabletheEquityShareholders,which includes Public Shareholders (as defined in theNotesbelow),toconsiderandapprovetheSchemebywayof aforesaid resolution(s). Accordingly, voting by EquityShareholdersofHTML to theSchemeshallbecarriedoutthrough(a)E-voting;and(b)BallotpaperatthevenueoftheMeeting,tobeheldonJune9,2018.

Copy of the said Scheme of Arrangement, and of thestatementunderSections230(3),232(1)& (2)and102oftheCompaniesAct2013readwithRule6oftheCompanies(Compromises, Arrangements and Amalgamations) Rules,2016 (“Explanatory Statement”) can be obtained free ofchargeattheregisteredofficeofHTMLonallworkingdays(except Saturdays, Sundays and public holidays) during10.00a.m.to4.00p.m.

NCLThasappointedShriDhritimanBhattacharyya,Advocate,as the Chairperson and failing him, Shri Girish Gupta,CharteredAccountant,as theAlternateChairpersonof thesaidMeeting,includingforanyadjournmentoradjournmentsthereof.

AcopyoftheabovementionedExplanatoryStatement,thesaidSchemeofArrangementandotherenclosuresincludingtheFormofProxyandtheAttendanceSlipareenclosedandformpartoftheNotice.

TheabovementionedSchemeofArrangement,ifapprovedby the meeting, will be subject to subsequent approval oftheNCLT.

Date:April30,2018

Place:NewDelhi

Sd/-Dhritiman Bhattacharyya

Chairpersonappointedforthemeeting

Registered Office: 18-20,KasturbaGandhiMarg,NewDelhi–110001

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Notes:

1. An Equity Shareholder of HTML entitled to attend and vote at the Meeting is entitled to appoint a proxy to attend the meeting and vote in his/her stead, and the proxy need not to be an Equity Shareholder of the Company. The instrument appointing a proxy, in order to be effective, must be deposited at the registered office of the Company, duly completed, stamped and signed, not less than 48 hours before the scheduled time for holding the Meeting. A blank proxy form is annexed to this Notice and can also be obtained free of charge from the registered office of HTML. All alterations made in the form of proxy should be initialled.

A person can act as proxy on behalf of Equity Shareholders not exceeding 50 (fifty) in number, and holding in aggregate, not more than 10% of the total share capital of the Company carrying voting rights. An Equity Shareholder holding more than 10% of the total share capital of the Company carrying voting rights, may appoint a single person as proxy and such person shall not act as a proxy for any other Equity Shareholder. Proxies executed/submitted on behalf of limited companies, societies, etc., must be supported by appropriate resolution / authority, as applicable. The Proxy-holder shall prove his identity at the time of attending the Meeting.

2. Corporate / Institutional Shareholders intending todeputetheirauthorizedrepresentative(s)toattendtheMeetingarerequestedto forwardat theRegisteredOffice of the Company, certified copy of the BoardResolution/PowerofAttorneytogetherwithspecimensignature(s)oftherepresentative(s),authorizingthesaidpersontoattendandvoteontheirbehalfattheMeeting,notlaterthan48hoursbeforethemeeting.

Incaseof jointholdersattending theMeeting,onlysuchjointholderwhoishigherintheorderofnameswillbeentitledtovoteattheMeeting.

3. TheStatementunderSections230(3),232(1)&(2)and102oftheCompaniesAct,2013readwithRule6of the Companies (Compromises, Arrangementsand Amalgamations) Rules, 2016 (“Explanatory Statement”)isannexedhereto.

4. NCLT by its Order dated March 6, 2018 andApril 13, 2018 (“Orders”) has directed that theMeetingoftheEquityShareholdersofHTMLshallbeconvened and held at Siri Fort Auditorium-II, A-25,Balbir Saxena Marg, Siri Fort Institutional Area,Gulmohar Park, New Delhi - 110049, on Saturday,June 9, 2018 at 11:00 a.m. for the purpose ofconsidering, and if thought fit, approving, with orwithoutmodification(s),theScheme.

5. The Notice, Explanatory Statement together withthe accompanying documents, is being sent to allthe Equity Shareholders whose names appear intheRegisterofMembers/ListofBeneficialOwnersreceivedfromNationalSecuritiesDepositoryLimited

(“NSDL”)/CentralDepositoryServices(India)Limited(“CDSL”) as on Thursday, May 3, 2018 (“Cut-off date”).TheNoticewill bedisplayedon thewebsiteofHTMLviz.www.htmedia.inandonthewebsiteofKarvyviz.https://evoting.karvy.com.

6. The Notice, Explanatory Statement together withthe accompanying documents, is being sent tothe Equity Shareholders in electronic form whosee-mailaddressesareregisteredwiththeDepositoryParticipants (in case of electronic shareholding) ortheCompany’sRegistrarandShareTransferAgent(incaseofphysicalshareholding),unlesstheEquityShareholder(s) has requested for a physical copyof thesame.ForEquityShareholderswhosee-mailaddressesarenotregistered,physicalcopiesoftheNoticearebeingsentbythepermittedmode.

7. Circular No. CFD/DIL3/CIR/2017/21 datedMarch 10, 2017 (“SEBI Circular”) issued by theSecurities and Exchange Board of India (“SEBI”)as amended from time to time, inter alia, providesthatapprovalofPublicShareholdersofHTMLtotheSchemeshallbeobtainedbywayofe-voting.Since,HTMLisseekingapprovalofallitsequityshareholders(which include the Public Shareholders) to theSchemebywayofe-voting,noseparateprocedurefor e-voting would be required to be carried out byHTML for seeking the approval to the Scheme byits Public Shareholders in terms of SEBI Circular.TheaforesaidNoticesenttotheEquityShareholders(which includes Public Shareholders) of HTMLwouldbedeemedtobethenoticesenttothePublicShareholders of HTML. For this purpose, the term“Public”shallhavethemeaningassignedtoitinRule2(d)oftheSecuritiesContracts(Regulations)Rules,1957 and the term “Public Shareholders” shall beconstruedaccordingly.

8. Incompliancewiththeprovisionsof(i)Section230(4)readwithSection108oftheCompaniesAct,2013;(ii)Rule6(3)(xi)of theCompanies(Compromises,Arrangements and Amalgamations) Rules, 2016;(iii) Rule 20 and other applicable provisions ofthe Companies (Management and Administration)Rules,2014;(iv)Regulation44andotherapplicableprovisions of the SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015; and(v) SEBI Circular, the Equity Shareholders havebeen provided with the facility to cast their voteon the resolution(s) to consider and approve theScheme set forth in this Notice, through e-voting.The Company has engaged the services ofKarvy Computershare Private Limited (Karvy),the Registrar & Share Transfer Agent of theCompany, as the authorized agency to providethee-votingfacility.TheCompanywillalsoprovidefacilitytovotethroughballotpaperatthevenueoftheMeeting.

Accordingly, voting by the Equity Shareholders ofHTML to the Scheme shall be carried out through(a)E-voting;and(b)BallotpaperatthevenueoftheMeetingtobeheldonSaturday,June9,2018.

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Kindly note that the Equity Shareholders (whichinclude the Public Shareholders) can opt for onlysinglemodeofvoting i.e. throughe-votingorvotingatthevenueoftheMeeting.IfanEquityShareholdercastsvotesbybothmodes,thenvotingdonethroughe-votingshallprevailandvotingattheMeetingshallbetreatedasinvalid.

Further,theEquityShareholderswhohavecasttheirvote through e-voting, may attend the Meeting butshallnotbeallowedtovoteagainthereat.

9. Anyperson,whosenameappearsintheRegisterofEquityShareholders/listofBeneficialOwnersasontheCut-offdatei.e.May3,2018,shallonlybeentitledto vote through e-voting or through ballot paper atthevenueofMeetingontheresolution(s)setforthintheNotice.ThevotingrightsofEquityShareholdersshall be reckoned on the paid-up value of sharesregistered in the name of Equity Shareholders /BeneficialOwnersasontheCut-offdate.

10. ThequorumoftheMeetingoftheEquityShareholdersofHTMLshallbe75%invalue.IncasethequorumasnotedabovefortheMeetingisnotcompleteatthescheduledtime,thentheMeetingshallbeadjournedbyhalf anhour, and thereafter, thepersonpresentat the Meeting shall be deemed to constitute thequorum.

11. Equity Shareholders / Proxies / Authorisedrepresentative(s)maykindlynotethefollowing:

(i) Copies of the Notice will not be distributed at thevenueoftheMeeting;

(ii) Attendance Slip, sent herewith, is required to beproduced at the venue duly filled-in and signed,forattendingtheMeeting;

(iii) EntrytothehallwillbeinexchangefordulycompletedandsignedAttendanceSlips;and

(iv) In all correspondence with the Company and/orKarvy,pleasequoteFolioNo.orDP&ClientIdNo.,asthecasemaybe.

12. The documents referred to in the Notice andaccompanying Explanatory Statement shall beavailable for inspectionwithout any feeby theEquityShareholders on all working days (except Saturdays,Sundays and Public holidays) during 10.00 a.m. to4.00p.m.at theRegisteredOfficeofHTML, fromthedateofdispatchofthisNoticetillthedateoftheMeeting.

13. KarvyComputersharePrivateLimited(Karvy)istheRegistrar & ShareTransfer Agent of the Company.AllinvestorrelatedcommunicationmaybeaddressedtoKarvyatthefollowingaddress:

KarvyComputersharePrivateLimitedKarvySeleniumTowerB,PlotNo.31&32FinancialDistrict,NanakramgudaSerilingampallyMandalHyderabad-500032Tel.:+91-40-67162222Fax:+91-40-23001153E-mail:[email protected]

14. During the period beginning 24 (twenty four) hoursbefore the time fixed for the commencement ofthe Meeting and ending with the conclusion of theMeeting, an Equity Shareholder would be entitledto inspect the proxies lodged at any time duringthebusinesshoursofHTML,providedthatnot lessthan3(three)daysofnoticeinwritingisgivenattheRegisteredOfficeofHTML.

15. The e-voting facility will be available during thefollowingperiod:

Commencement of e-voting

From 9.00 a.m. (Server time) on May 10, 2018 (Thursday)

End of e-voting Up to 5.00 p.m. (Server time) on June 8, 2018 (Friday)

Duringtheaforesaidperiod,theEquityShareholders(whichincludesPublicShareholders)ofHTMLholdingshares either in physical form or in dematerializedform,ason theCut-offdate, i.e.May3,2018,maycasttheirvoteelectronically.Thee-votingmodulewillnotbeallowedbeyondtheaforesaiddateandtime,andthee-votingmoduleshallbedisabledbyKarvyuponexpiryofaforesaidperiod.OncethevoteontheresolutioniscastbyanEquityShareholder,heorshewillnotbeallowedtochangeitsubsequently.Equity Shareholders are requested to carefully read the “Procedure and instructions for e-voting” outlined hereunder.

16. In terms of the directions contained in the Orders,theadvertisementwillbepublishedin(i)‘HindustanTimes’newspaperintheEnglishandHindiLanguage(Delhi edition); and (ii) ‘Hindustan’ newspaper inHindi language (Delhi edition) indicating the day,date, place and time of the Meeting and statingthat the copies of the Scheme, the ExplanatoryStatement and the form of Proxy can be obtainedfreeofchargeonallworkingdays(exceptSaturdays,Sundays and Public Holidays) during 10.00 a.m. to4.00p.m.fromtheRegisteredOfficeofHTML.

17. InaccordancewiththeprovisionsofSections230to232oftheCompaniesAct,2013,theSchemeshallbeactedupononlyifamajorityofpersonsrepresentingthree-fourth in value of the Equity Shareholders ofHTML,votinginpersonorbyproxyore-voting,agreetotheScheme.

18. NCLThasappointed,Ms.DeetiOjha,AdvocateastheScrutinizer to scrutinize the voting through e-votingprocessandvotingatthevenueoftheMeeting.

19. TheScrutinizer,shallonconclusionofe-votingperiod,unblock the votes in the presence of at least twowitnesses not in employment of HTML.Thereafter,theScrutinizerwillsubmitherreporttotheChairmanoftheMeeting,aftercompletionofscrutinyofvotescastbyEquityShareholders (which includesPublicShareholders) of HTML, through (i) e-voting, and(ii)ballotpaperatthevenueoftheMeeting,whoshallcountersignthesame.TheScrutinizer’sdecisiononthevalidityof thevotes (includinge-votes)shallbe

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final. The results of the voting on the resolution(s)set out in the Notice, will be announced on orbeforeJune11,2018.Theresults,togetherwiththeScrutinizer’s report, will be displayed on the NoticeBoardofHTMLatitsregisteredoffice,onthewebsiteofHTMLviz.www.htmedia.inandonKarvy’swebsiteviz. https://evoting.karvy.com, besides beingcommunicated to BSE Limited and National StockExchangeofIndiaLimited.

20. Equity Shareholders may please note that briefcase, bag, mobile phone, and/or eatables shall not be allowed to be taken inside the hall for security reasons.

21. TheresolutionsshallbedeemedtobepassedonthedateofMeeting,subjecttoreceiptofrequisitenumberofvotesbeingcastinfavouroftheresolution(s).

22. RoutemapofthevenueoftheMeetingisannexedtotheNotice.

23. PROCEDURE AND INSTRUCTIONS FOR E-VOTING

(A) In case of Equity Shareholders receiving copy of Notice via email [whose e-mail address is registered with the Company/Depository Participant(s)]:

i. Launch internet browser by typing the URL:https://evoting.karvy.com.

ii. Enterthelogincredentials(i.e.UserIDandpasswordmentioned in the e-mail). In case of physical folio,User ID will be EVEN (E-voting Event Number)followedbyfolionumber.IncaseofDemataccount,User IDwillbeyourDP IDandClient ID.However,ifyouarealreadyregisteredwithKarvyforE-voting,youcanuseyourexistingUserIDandpasswordforcastingyourvote.

iii. After entering these details appropriately, click on“LOGIN”.

iv. Youwillnowreachpasswordchangemenuwhereinyou are required to mandatorily change yourpassword. The new password should comprise ofminimum8characterswithat leastoneuppercase(A-Z), one lower case (a-z), one numeric value(0-9)andaspecialcharacter(@,#,$,etc.).Thesystemwillpromptyoutochangeyourpasswordandupdateyourcontactdetailslikemobilenumber,emailIDetc.onfirst login.Youmayalsoenterasecretquestionandanswerofyourchoicetoretrieveyourpasswordin case you forget it. It is strongly recommended that you do not share your password with any other person and that you take utmost care to keep your password confidential.

v. Youneedtologinagainwiththenewcredentials.

vi. On successful login, the system will prompt you toselectthe“EVEN”i.e.,“HTMediaLimited”.

vii. On the voting page, enter the number of shares(which represents the number of votes) as on theCut-offDateunder“FOR/AGAINST”oralternatively,youmaypartiallyenteranynumberunder“FOR”orpartially “AGAINST” but the total number in “FOR/AGAINST” taken together should not exceed yourtotal shareholding as mentioned herein above.Youmay also choose the option “ABSTAIN” and thesharesheldwillnotbecountedundereitherhead.

viii. Equity Shareholders holding multiple folios/demataccountsshallchoosethevotingprocessseparatelyforeachfolio/demataccounts.

ix. Voting has to be done for each item of the Noticeseparately.Incaseyoudonotdesiretocastyourvoteonanyspecificitem,itwillbetreatedas“ABSTAIN”.

x. You may then cast your vote by selecting anappropriateoptionandclickon“SUBMIT”.

xi. A confirmation box will be displayed. Click “OK” toconfirm else “CANCEL” to modify. Once you havevoted on the resolution, you will not be allowed tomodify.

xii. Corporate/InstitutionalEquityShareholders(i.e.otherthan Individuals,HUF,NRIetc.)arealso required tosendscannedcertifiedtruecopy(PDFFormat)oftheBoardResolution/AuthorityLetter/PowerofAttorney,etc., togetherwithattestedspecimensignature(s)ofthedulyauthorisedrepresentative(s),totheScrutinizerat email address: [email protected] with acopymarked toevoting@karvy.com.Theymayalsouploadthesameinthee-votingmoduleintheirlogin.The scanned image of the above mentioneddocuments should be in the naming format“Corporate Name_Event No.”

(B) In case of Equity Shareholders receiving physical copy of Notice [whose e-mail addresses are not registered with the Company/Depository Participant(s)]:

i. EVEN, User ID and Password are mentioned in aseparatecommunicationannexedtothisNotice.

ii. PleasefollowallstepsfromSl.No.(i)to(xii)ofpara23(A)abovetocastyourvotebyelectronicmeans.

24. In case of any query/grievance, in respect of e-voting, Equity Shareholders may refer to Help & FAQ’s section / E-voting user manual available under the “Downloads” section of Karvy’s website viz. https://evoting.karvy.com or contact Mr. G. Ramesh Desai, Manager at Karvy Computershare Private Limited, Karvy Selenium Tower B, Plot No. 31-32, Financial District, Nanakramguda, Serilingampally Mandal, Hyderabad - 500 032 or at email address viz. [email protected] or contact no. 040-6716 2222 or Karvy’s toll free No. 1800-345-4001 (from 9.00 a.m. to 6.00 p.m.).

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BEFORE THE HON’BLE NATIONAL COMPANY LAW TRIBUNAL

NEW DELHI BENCH

COMPANY APPLICATION NO. (CAA) - 24 (ND) / 2018

In the matter of the Companies Act,2013;

And

In the matter of Sections 230 to232 read with Section 66 andother applicable provisions of theCompaniesAct,2013;

And

In the matter of Scheme ofArrangement between HT MediaLimited and Digicontent Limited(Formerly known as HT DigitalVenturesLimited)andtheirrespectiveshareholdersandcreditors.

HTMediaLimited,

A company incorporated under the provisions of theCompanies Act, 1956 and having its registered office at18-20,KasturbaGandhiMarg,NewDelhi–110001.

----Applicant-1/ Demerged Company/HTML

Statement under Sections 230(3), 232(1) & (2) and 102 of the Companies Act, 2013 read with Rule 6 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 (“Explanatory Statement”)

1. Pursuant to the Orders dated March 6, 2018 andApril 13, 2018, passed by the Hon’ble NationalCompany Law Tribunal, New Delhi Bench (the“Tribunal” or “NCLT”) in Company ApplicationNumber (CAA) - 24 (ND) / 2018, filed jointly byHTMediaLimited(“HTML”)andDigicontentLimited(“Resulting Company”), a meeting of the EquityShareholdersofHTML,isbeingconvenedandtobeheld at Siri Fort Auditorium-II, A-25, Balbir SaxenaMarg, Siri Fort Institutional Area, Gulmohar Park,New Delhi - 110049, on Saturday, June 9, 2018at 11:00 a.m., for the purpose of considering andifthoughtfit,approving,withorwithoutmodification(s),theproposedSchemeofArrangementbetweenthejointapplicantsandtheirrespectiveshareholdersandcreditors(hereinafterreferredtoasthe“Scheme”or“SchemeofArrangement”)underSections230to232readwithSection66andotherapplicableprovisionsof the Companies Act, 2013 (the “Act”). A copy ofthe Scheme setting out details of parties involvedin theproposedScheme,AppointedDate,EffectiveDate, Share Entitlement Ratio etc., is enclosed asAnnexure 1. Capitalised termsusedhereinbutnotdefinedshallhavethemeaningassignedtothemintheScheme,unlessotherwisestated.

2. In terms of the Order dated March 6, 2018, thequorumfor thesaidMeetingshallbe75%invalue.Incasethequorumasnotedaboveforthemeetingisnotcompleteatthescheduledtime,thenthemeeting

shall be adjourned by half an hour and thereafter,the person(s) present at the meeting shall bedeemed toconstitute thequorum.Further, in termsof theOrderdatedMarch6,2018, theTribunalhasappointed Shri Dhritiman Bhattacharyya, Advocateas the Chairperson of the Meeting and failing him,Shri Girish Gupta, Chartered Accountant, as theAlternateChairpersonofthesaidmeeting,includingforanyadjournmentoradjournmentsthereof.

3. This Explanatory Statement is being furnishedas required under Sections 230(3), 232(1) & (2)and 102 of the Companies Act, 2013 (the “Act”),readwithRule6of theCompanies (Compromises,ArrangementsandAmalgamations)Rules,2016.

4. As stated earlier, NCLT by its Order datedMarch 6, 2018 and April 13, 2018, has, inter alia,directed that a meeting of the Equity Shareholdersof HTML shall be convened and held at Siri FortAuditorium-II, A-25, Balbir Saxena Marg, Siri FortInstitutional Area, Gulmohar Park, New Delhi -110049, on Saturday, June 9, 2018 at 11:00 a.m.(1100 hours) for the purpose of considering, andifthoughtfit,approving,withorwithoutmodification(s),the arrangement embodied in the Scheme. Equityshareholders shall be entitled to vote in the saidMeetingeitherinpersonorthroughproxy.

In addition, HTML is seeking the approval of itsEquity Shareholders to the Scheme by way ofe-voting. Circular No. CFD/DIL3/CIR/2017/21 datedMarch 10, 2017 (“SEBI Circular”) issued by theSecurities and Exchange Board of India (“SEBI”)as amended from time to time, inter alia, providesthatapprovalofPublicShareholdersofHTMLtotheSchemeshallbeobtainedbywayofvotingthroughe-voting. Since, HTML is seeking the approval ofits Equity Shareholders (which includes PublicShareholders)totheSchemebywayofe-voting,noseparateprocedurefore-votingwouldberequiredtobecarriedoutbyHTMLforseekingtheapproval tothe Scheme by its Public Shareholders in terms ofSEBICircular.TheaforesaidNoticesenttotheEquityShareholders(whichincludesPublicShareholders)ofHTMLwouldbedeemedtobetheNoticesenttothePublicShareholdersofHTML.Forthispurpose,theterm“Public”shallhavethemeaningassignedtoitinRule 2(d) of the Securities Contracts (Regulations)Rules,1957andtheterm“PublicShareholders”shallbeconstruedaccordingly.

5. InaccordancewiththeprovisionsofSections230to232oftheAct,theSchemeshallbeactedupononlyifamajorityinnumberrepresentingthree-fourthsinvalueoftheEquityShareholders,ofHTML,votinginpersonorbyproxyore-voting,agreetotheScheme.

6. If the entries in the records/registers of HTML inrelationtothenumberorvalue,asthecasemaybe,oftheequitysharesaredisputed,theChairmanoftheMeetingshalldeterminethenumberorvalue,asthecasemaybe, for thepurposesof thesaidMeeting,subjecttotheOrdersofNCLTinthepetitionseekingsanctionoftheScheme.

9

BACKGROUND OF THE COMPANIES

Particulars of HT Media Limited (HTML)

7. HT Media Limited (hereinafter referred to as“HTML”), was incorporated on December 3, 2002as a public company limited by shares.TheCorporateIdentificationNumberoftheHTMLisL22121DL2002PLC117874.TheRegisteredOfficeofHTML is situatedat18-20,KasturbaGandhiMarg,NewDelhi–110001.

8. The email and website address of HTML [email protected] and www.htmedia.in,respectively.

9. HTML is engaged in Printing and publication ofnewspapersandperiodicals;FMRadioBroadcasting;Entertainment & Digital Innovation Business andOnline jobportal“shine.com”.TheobjectsofHTMLset out under Clause III(A) of its Memorandum ofAssociationareasunder:

(a) Toprint,publish,conduct forsaleordeal inoneormore newspapers, periodicals, magazines books,pamphletsetc.,eitherdailyorotherwise,inEnglish,Hindioranyotherlanguage.

(b) Tomanufacture,produce,exhibit,distribute,buyandsell, assign, licence, telecast, broadcast news andcurrent affairs, television films, commercial films,videofilms,videomagazinesandtoengageinothersimilaractivitiesrelatedthereto.

(c) Toengageinthebusinessofdisseminationofnews,knowledge and information of general interest,across the globe, through web-page design,creation, hosting and any business relating to theInternet or e-mail, networking and communicationenvironments.

(d) To engage in the business of radio broadcast andallotheralliedactivitiesincludingproducing,buying,sellinganddistributionofradioprograms.

(e) To carry on in India and elsewhere the businessto produce, promote, manage, project, procure oracquire rights, participate, manufacture, process,prepare, alter, develop, expose, edit, exhibit,broadcast, transmit, make, remake, display, print,reprint, convert, duplicate, finish, buy, sell, run,import, export and deal in any manner, to act asbroker, agent, distributor, proprietor, organizers,promoters, sponsors, copyright owners, audio & video right owners, media partners and mediaadvisors of all kinds of live and recorded sports,entertainment events, news & current affairevents, summits, pageants, concerts, shows,exhibitions, premiers in all languages in India orelsewhere.

(f) Tocarryonbusinessasadvertisingagent,topurchaseand sell advertising time or space on any medialike, newspaper, magazine, pamphlet, publications,television,radio,mobile,internet,satelliteinIndiaorabroadoranyotherkindofmediacurrentlyinvogue

orwhichmaybeinvogueatanytime,andtoactasagentorrepresentativeforanyperson(s)orentitiesforsoliciting/bookingadvertisementsand/oranyotherpromotional, commercialandotherprogrammesonanyformofmediaormediumincludingcollectionofcharges and remittances thereof to principals andany other activities related to or necessary in thecontextofthesaidbusiness.

(g) To act as manufacturers, importers, exporters anddealers in all kinds and classes of paper, board,oranyotherarticlesorthingsofacharactersimilaroranalogoustotheforegoing.

(h) To provide managerial, consulting and/or advisorybasedservices.

(i) Toestablish,purchase,acquire,operate,manage,maintain, develop, and /or run, either on its own,or in collaboration with others, coaching classes,training centers, schools, colleges, universities,bureaus, websites, research laboratories andother academic/non-academic institutions, forimparting primary, secondary and higher leveleducation, in all disciplines of arts, science,commerce, engineering, medicine, para-medical,management, computers, management andinformationtechnology,inandoutsideIndia,bywayof oral, written, correspondence, teleconferencingandonlinecourses.

Further, Sub Clause 9 of Clause III(B) of theMemorandum of Association of HTML authorizesarrangement, scheme, merger, demerger, etc.withanyother companyand thesame isextractedbelow:

“Toamalgamate,enterintoanyarrangement,schemeormergerordemerger,withanyothercompanyorcompanieswhoseobjectsinwholeorpartaresimilartoorincludeobjectssimilartothoseoftheCompanyor to demerge any unit of the company, on suchtermsasmaybeagreeduponbetween theseveralcompanies.”

Sub Clauses (a), (g), (h) and (i) of the aforesaidClause III(A) of HTML were inserted/altered andeffective from February 22, 2018 pursuant toCertificateof registration issuedby theRegistrarofCompanies,Delhi.Exceptasstatedabove,therehasbeennochangeinthemainobjectsclauseofHTMLinthelast5years.

10. Duringthelastfiveyears,therehasbeennochangeinthenameandregisteredofficeofHTML.

11. ItmaybenotedthatHTMLisapubliclimitedcompanyand its securities are listed on BSE Limited (BSE)andNationalStockExchangeofIndiaLimited(NSE).

12. ThecapitalstructureofHTMLasonMarch31,2018isasunder:

10

Particulars Amount (in Rs.)

Authorised Share Capital

36,25,00,000EquitySharesofRs.2/-each 72,50,00,000/-

Total 72,50,00,000/-

Issued, Subscribed and Paid-up Share Capital

23,27,48,314EquitySharesofRs.2/-eachfullypaidup 46,54,96,628/-

Total 46,54,96,628/-

13. The names and addresses of the Promoters of HTML including their shareholding in HTML and theResultingCompanyasonMarch31,2018,isoutlinedbelow:

S. No.

Name and address of Promoters No. of shares held

in HTML

Percentage of shares

held

No. of shares held in the Resulting Company


held

1 Smt.ShobhanaBhartia19,FriendsColony(West),Delhi-110065

20* 0.00 0 0.00

2 ShriPriyavratBhartia19,FriendsColony(West),Delhi–110065

1 0.00 5# 0.01

3 ShriShamitBhartia19,FriendsColony(West),Delhi-110065

1 0.00 5# 0.01

4 TheHindustanTimesLimitedHT House, 18-20, Kasturba Gandhi Marg,NewDelhi–110001

16,17,54,490 69.50 0 0.00

5 Go4i.com(Mauritius)LimitedIFS Court,Twenty Eight, Cybercity, Ebene,Mauritius

22,581 0.01 0 0.00

*19 shares held as nominee of Go4i.com (Mauritius) Limited #held as nominee of HTML

14. ThelistofDirectorsofHTMLasonMarch31,2018alongwiththeirnamesandaddressesisoutlinedbelow:

S. No. Name, DIN and address of Directors Designation

1 Smt.ShobhanaBhartia(DIN:00020648)19,FriendsColony(West),Delhi–110065

Chairperson&EditorialDirector

2 ShriKashiNathMemani(DIN:00020696)177C,WesternAvenueLaneNo.7,SainikFarmsNewDelhi–110062

IndependentDirector

3 ShriAjayRelan(DIN:00002632)191,GolfLinks,NewDelhi–110003

IndependentDirector

4 ShriVikramSinghMehta(DIN:00041197)23,FriendsColony(West),NewDelhi–110065

IndependentDirector

5 ShriVivekMehra(DIN:00101328)B-314,NewFriendsColony,NewDelhi-110025

IndependentDirector(AdditionalDirector)

6 ShriPriyavratBhartia(DIN:00020603)19,FriendsColony(West),Delhi–110065

Director

7 ShriShamitBhartia(DIN:00020623)19,FriendsColony(West),Delhi–110065

Director

8 ShriDineshMittal(DIN:00105769)228,JagritiEnclave,IIIrdFloor,Delhi–110092

Whole-timeDirector,Group

GeneralCounsel&CompanySecretary

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15. The details of shareholding of the Directors and Key Managerial Personnel of HTML, in HTML and theResultingCompanyasonMarch31,2018isoutlinedbelow:

S. No.

Name and Designation No. of shares held in HTML

No. of shares held in the Resulting Company

1 Smt.ShobhanaBhartia(Chairperson&EditorialDirector)

20* 0

2 ShriKashiNathMemani(IndependentDirector)

0 0

3 ShriAjayRelan(IndependentDirector)

0 0

4 ShriVikramSinghMehta(IndependentDirector)

0 0

5 ShriVivekMehra(IndependentDirector-AdditionalDirector)

0 0

6 ShriPriyavratBhartia(Director)

1 5#

7 ShriShamitBhartia(Director)

1 5#

8 ShriDineshMittal(Whole-timeDirector,GroupGeneralCounsel&CompanySecretary)

1 5#

9 ShriRajivVerma(ChiefExecutiveOfficer)

1 0

10 ShriPiyushGupta(GroupChiefFinancialOfficer)

0 5#

*19 shares held as nominee of Go4i.com (Mauritius) Limited #held as nominee of HTML

Since,March31,2018and till thedateof thisNotice, therehasbeennochange in thecapitalstructure,detailsofPromoters,DirectorsandKeyManagerialPersonnelsofHTML(includingtheirshareholding)asoutlinedunderpara12,13,14and15above.

Particulars of Digicontent Limited (Resulting Company)

16. DigicontentLimited(hereinafterreferredtoasthe“ResultingCompany”)wasincorporatedonAugust14,2017asapubliccompanylimitedbysharesunderthenameof“HTDigitalVenturesLimited”.Subsequently,thenamewaschanged to “Digicontent Limited” with effect from October 24, 2017.The Corporate Identification Number of theResultingCompanyisU74999DL2017PLC322147.TheRegisteredOfficeoftheResultingCompanyissituatedatHindustanTimesHouse,2ndFloor,18-20,KasturbaGandhiMarg,NewDelhi–110001.

17. TheemailandwebsiteaddressoftheResultingCompanyissecretarial@hindustantimes.comandwww.digicontent.co.in.

18. TheResultingCompanyisauthorisedunderitsMemorandumofAssociationtoengageinentertainmentanddigitalinnovation business. The objects of the Resulting Company set out under Clause III(A) of its Memorandum ofAssociationareasunder:

(a) Toengagein,deal,carryoutanyactivityorbusinessinthedigitalmediaspaceandelectronicmedia,forcreation,disseminationand/orintegrationofnews,knowledge,information,entertainment,brand/eventpromotionandcontentofgeneralinterest,inEnglish,Hindioranyotherlanguage,acrosstheglobethroughnetworking,telecom,web-pagedesign,creation,hosting,radio,televisionand/oranyothermodeofcommunicationwhethercurrentlyinvogueorwhichmaybeinvogueinthefuture.

(b) TocarryoninIndiaorelsewhere,thebusinesstoproduce,promote,manage,project,procure,acquirerights,developdigitalandothertools,create,curate,edit,aggregate,digitalcontent(includingphoto,audioandvideocontent)and/or toparticipate in,manufacture,process,aggregate,accumulate,syndicate,prepare,alter,develop,edit,exhibit,broadcast,transmit,make,remake,display,print,reprint,convert,duplicate,finish,buy,sell,promote,run,import,export,actasbroker,agent,distributor,proprietor,organizers,promoter,sponsors,copyrightowner,audio&videorightowner,mediapartners/advisorsordealinanymanner,inallkindsofaudio,video,photoordigitalcontent,liveandrecordedsports,entertainmentevents,music,news&currentaffairsevents,summits,pageants,concerts,shows,exhibitions,premiers,inalllanguagesinIndiaorelsewhere.

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(c) Tocarryonbyitself,orthroughfranchiseesorlicensees,classifiedadvertisementbusinessincludingbutnotlimitedtojobs,education,property,automobile,matrimonial,travel,saleorpurchaseofmerchandiseand/orprovidingservicesinrelation thereto, through internetoranyotherdigitalmedium; toprovideweb-basedservices, includingbutnotlimitedtogaming,blogging,audio-videostreamingetc.bydesigning,creating,hosting,servicingweb-sitesoranyotherplatform,establishing,providing,operatingandmanaging,e-commerce,direct-to-home,m-commerceplatforms,forsaleofallcategoriesofproductsand/orservices;tocreate,developandmarketanytechnologyforfacilitationofmobileorelectronicorinternetbasedpaymentsoranyothertechnologybasedpaymentsfortransactions,whethercurrentlyinvogueorwhichmaybeinvogueinthefuture.

(d) TocarryonanybusinessrelatingtoInternetore-mail,networkingandcommunicationenvironments,includingbutnotlimitedtosearchengines,jobs,education,property,automobile,classifieds,matrimonial,travel,sale/purchaseofmerchandiseand/orprovidingservicesetc.throughinternet/on-linemediumand/ortoprovidevariousweb-basedservices,includingbutnotlimitedtogaming,blogging,audio/videostreamingetc.bydesigning,creating,hosting,servicing etc. appropriate web-sites, merchandising the web-sites or any other internet based media, to be thelicensee of different web-sites, to manage, operate and maintain web-sites of different types (content, technicalorotherwise)web relatedproductsor internet relatedactivitiesand toexecutee-commerce,e-logic,e-solutions,businessofinternetservice,electronicmailservice,facsimileservice,contentmarketingefficiencymodel,contentandeventaggregationforonlinemediumand/ormobileapplications,providingorengaginginbusinessofm-commercesolutions,providingcontentforvalueaddedservicesinmobiletelephonesand/orothercommunicationsystemsandtocarryonanyinternet,web-basedoranyotherprevalentorfuturetechnologybasedbusiness.

(e) Tocarryonthebusinesstoactasadvisors,consultants,guides,executants,agents, liaisonrepresentativesor inanyothermanner,formarketingpromotionand/orbrandpromotion,includingbusiness-to-businesssolutionsofanyproduct,person,entity,advertisementandpublicrelationsagency,governmentandnon-governmentalorganization,through all communication mediums, including but not limited to newspaper, magazine, pamphlet, publications,television,events,conferences,radio,mobile, internet,satellite inIndiaorabroadoranyotherkindofmediacurrentlyinvogueorwhichmaybeinvogueinthefuture.

Further,SubClause9ofClause III(B)of theMemorandumofAssociationof theResultingCompanyauthorizesarrangement,merger,demerger,etc.withanyothercompanyandthesameisextractedbelow:

“To enter into any merger, amalgamation, demerger or restructuring arrangement, with any other company orcompanieswhoseobjects inwholeorpartaresimilartoor includeobjectssimilartothoseoftheCompanyortodemergeanyunitofthecompany,onsuchtermsasmaybeagreeduponbetweentheseveralcompanies.”

19. Thereisnochangeinthemainobjectsclausesummarisedunderpara18aboveoftheResultingCompanysinceitsincorporation.Also,thereisnochangeintheregisteredofficeoftheResultingCompanysinceitsincorporation.

20. ItmaybenotedthattheResultingCompanyisapubliclimitedcompanyanditssecuritiesarenotlistedonanystockexchange.

21. ThecapitalstructureoftheResultingCompanyasonMarch31,2018isasunder



50,000EquitySharesofRs.2/-each 1,00,000/-

Total 1,00,000/-


50,000EquitySharesofRs.2/-each 1,00,000/-

Total 1,00,000/-

ThefacevalueofEquitySharesoftheResultingCompanyhasbeensub-dividedfromRs.10/-perequitysharetoRs.2/-perequityshare,w.e.f.January4,2018.

22. The names and address of the Promoter of the Resulting Company including its shareholding in HTML and theResultingCompanyasonMarch31,2018,isoutlinedbelow:

S. No.

Name and address of Promoters

No. of shares held in HTML


held

No. of shares held in the Resulting

Company

Percentage of shares held

1 HTMediaLimited18-20, Kasturba Gandhi Marg,NewDelhi–110001

NotApplicable - 50,000* 100.00

*Includes shares held alongwith its Nominee(s)

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23. ThelistofDirectorsoftheResultingCompanyasonMarch31,2018isoutlinedbelow:

S. No. Name, DIN and address of Directors Designation

1 ShriPriyavratBhartia(DIN:00020603)19,FriendsColony(West),Delhi–110065

Director

2 ShriRajivVerma(DIN:00017110)S-441,GreaterKailash-II,Delhi–110048

Director

3 ShriSharadSaxena(DIN:02239469)204B,BeverlyParkI,M.G.Road,Gurgaon-122001

Director

24. ThedetailsofshareholdingoftheDirectorsandKeyManagerialPersonneloftheResultingCompanyinHTMLandtheResultingCompanyasonMarch31,2018isoutlinedbelow:

S. No.

Name No. of shares held in HTML No. of shares held in the Resulting Company

1 ShriPriyavratBhartia(Director)

1 5#

2 ShriRajivVerma(Director)

1 0

3 ShriSharadSaxena(Director)

0 5#

#held as nominee of HTMLNote: The Resulting Company does not have any Key Managerial Personnel

Since,March31,2018andtillthedateofthisNotice,thereisnochangeinthecapitalstructure,detailsofPromotersandDirectorsoftheResultingCompany(includingtheirshareholding)asoutlinedunderpara21,22,23and24above.

RELATIONSHIP SUBSISTING BETWEEN PARTIES TO THE SCHEME

25. TheResultingCompanyisawholly-ownedsubsidiaryofHTML.

BOARD MEETING OF HTML AND THE RESULTING COMPANY FOR APPROVAL OF THE SCHEME

26. TheSchemehasbeenunanimouslyapprovedby theBoardofDirectorsofHTMLvide resolutionpassed in themeetingheldonAugust25,2017.Outoftotal8directorsofHTML,6directorswerepresentintheMeeting,allofwhomvotedinfavouroftheresolution.ThedetailsofvotingbyDirectorsontheresolutionisasunder:

S. No. Name of Directors Voting on the Resolution

1 Smt.ShobhanaBhartia InFavour

2 ShriKashiNathMemani InFavour

3 ShriAjayRelan InFavour

4 ShriN.K.Singh NotPresent

5 ShriVikramSinghMehta NotPresent*

6 ShriPriyavratBhartia InFavour

7 ShriShamitBhartia InFavour

8 ShriDineshMittal InFavour

*Participated via tele-conferencing

27. TheSchemehasbeenunanimouslyapprovedbytheBoardofDirectorsoftheResultingCompanyvideresolutionpassedinthemeetingheldonAugust25,2017.Allthe3directorsoftheResultingCompanywerepresentintheMeeting,andvotedinfavouroftheresolution.ThedetailsofvotingbyDirectorsontheresolutionisasunder:

S. No. Name of Directors Voting on the resolution

1 ShriPriyavratBhartia InFavour

2 ShriRajivVerma InFavour

3 ShriSharadSaxena InFavour

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APPROVALS AND ACTIONS TAKEN IN RELATION TO THE SCHEME

28. National Stock Exchange of India Limited wasappointed as the designated Stock Exchange byHTMLforthepurposeofco-ordinatingwiththeSEBI,pursuanttotheSEBICircular.

29. HTML received No adverse observation letter andNo-objection letter regarding the Scheme from NSEandBSE,respectively,eachdatedDecember22,2017andDecember26,2017conveying theirNoadverseobservations and No-objection for filing the SchemewithNCLT.

CopiesoftheaforesaidNoadverseobservationsandNo-objection letters of NSE and BSE, respectively,areenclosedasAnnexures 4and5.

30. As required by the SEBI Circular, HTML hadfiled the complaints report with BSE and NSE onOctober24,2017.These reports indicate thatHTMLhas not received any complaints. A copy of thecomplaintsreportsubmittedbyHTMLtoBSEandNSE,datedOctober24,2017isenclosedasAnnexure 6.

31. HTML and the Resulting Company, filed jointapplication being Company Scheme ApplicationNo. (CAA) - 24 (ND) / 2018 along with annexuresthereto(whichincludestheScheme)withtheHon’bleNationalCompanyLawTribunal,DelhiBench,Delhi,onFebruary5,2018.Theshareholdingdetails(facevalueandholdingpattern)mentioned in thisNoticehasbeenupdatedforchangesfromthedateoffilingoftheapplication.

VALUATION AND ACCOUNTING TREATMENT

32. Copy of Share Entitlement Ratio Report obtainedfromM/sJainJindal&Co.,CharteredAccountants,datedAugust25,2017isenclosedasAnnexure 2.No special valuation difficulties were reported byM/sJainJindal&Co.,CharteredAccountantsintheiraforesaidreport.

33. The accounting treatment as proposed in theScheme is in conformity with the accountingstandards prescribed under Section 133 of theCompaniesAct,2013.Thecertificate issuedby theStatutory Auditor of both HTML and the ResultingCompanyinthisbehalf,isopenforinspectionattheregisteredofficeofHTML.

SALIENT EXTRACTS OF THE SCHEME

34. ThekeytermsoftheSchemeofArrangementhavebeenreproducedhereinbelow:

i. Clause 1.3 provides Appointed Date to beMarch31,2018(atcloseofbusinesshours).

ii. Clause1.8providesthat“EffectiveDate”meansthedateonwhich the last of the conditionsmentionedin Clause 18 of Part C of the Scheme is fulfilledand the Scheme is made effective with effect fromtheAppointedDate.Anyreferences in thisSchemetothe“dateofcomingintoeffectofthisScheme”or“effectiveness of the Scheme” or “Scheme takingeffect”shallmeantheEffectiveDate.

iii. Clause5.1providesthatuponthecomingintoeffectofthisSchemeandwitheffectfromtheAppointedDate,the“Entertainment&DigitalInnovationBusiness”(includingall theestate,assets, rights,claims, title, interestandauthorities including accretions and appurtenancesof the “Entertainment & Digital Innovation Business”)shall,withoutanyfurtheract,instrument,deed,matterorthing,bedemergedfromHTMLandstandtransferredtoandvestedintheResultingCompanyorbedeemedto have been demerged from HTML, and transferredto and vested in the Resulting Company as a goingconcern,soastobecomeasandfromtheAppointedDate, the estate, assets, rights, claims, title, interestsandauthoritiesoftheResultingCompany,pursuanttoSection232oftheAct.

iv. Clause6.1providesthatuponthecomingintoeffectofthisScheme,alllegalorotherproceedings(includingbefore any statutory or quasi-judicial authority ortribunal) by or against HTML, under any statute,whetherpendingontheAppointedDate,orwhichmaybeinstitutedanytimeinthefutureandineachrelatingtotheEntertainment&DigitalInnovationBusinessshallbecontinuedandenforcedbyoragainsttheResultingCompanyaftertheEffectiveDate.IntheeventthatthelegalproceedingsreferredtohereinrequireHTMLandtheResultingCompanytobejointlytreatedaspartiesthereto, theResultingCompanyshallbeaddedasaparty to such proceedings and shall prosecute anddefendsuchproceedings inco-operationwithHTML.Intheeventofanydifferenceordifficultyindeterminingastowhetheranyspecificlegalorotherproceedingsrelate to the Entertainment & Digital InnovationBusinessornot,adecisionjointlytakenbytheBoardofDirectorsofHTMLand theResultingCompany inthisregard,shallbeconclusiveevidenceofthematter.

v. Clause7.1providesthatuponthecomingintoeffectofthisSchemeandsubjecttotheprovisionsofthisScheme, all contracts, deeds, bonds, agreements,schemes, arrangements and other instruments ofwhatsoever nature in relation to the Entertainment& Digital Innovation Business to which HTML is apartyortothebenefitofwhichHTMLmaybeeligible,andwhicharesubsistingorhaveeffectimmediatelybefore the Effective Date, shall be in full force andeffect by or against or in favour of the ResultingCompany,asthecasemaybe,andmaybeenforcedas fully and effectually as if, instead of HTML, theResultingCompanyhadbeenapartyorbeneficiaryorobligeethereto.

vi. Clause8.1providesthattransferandthevestingoftheassets,liabilitiesandobligationsoftheEntertainment&DigitalInnovationBusinessunderclause5hereofand the continuance of proceedings by or againsttheResultingCompanyunderclause6hereofshallnot affect any transaction or proceedings alreadycompletedbyHTMLonoraftertheAppointedDate,to the end and intent that the Resulting Companyadopts,acceptsallacts,deedsandthingsdoneandexecutedbyand/oronbehalfofHTMLinrelationtoEntertainment&DigitalInnovationBusinessasacts,deedsandthingsmade,doneandexecutedbyandonbehalfoftheResultingCompany.

15

vii. Clause9.1providesthatuponthecomingintoeffectof this Scheme, all the employees relating to theEntertainment & Digital Innovation Business thatwere employed by HTML, immediately before theEffective Date, shall become the employees of theResultingCompanywithoutanybreakorinterruptionofserviceandwiththebenefitofcontinuityofserviceontermsandconditionswhicharenotlessfavorablethan the terms and conditions as were applicableto such employees relating to the Entertainment &Digital Innovation Business of HTML immediatelypriortothedemergeroftheEntertainment&DigitalInnovationBusiness.

viii. Clause10.1providesthatwitheffectfromtheAppointedDateanduptoandincludingtheEffectiveDate:

a) HTML undertakes to carry on and shallbe deemed to carry on all businessesand activities and stand possessed of thepropertiesandassetsoftheEntertainment&DigitalInnovationBusiness,forandonaccountofandintrustfortheResultingCompany.

b) All profits accruing to HTML and all taxesthereon or losses arising or incurred by itwith respect to the Entertainment & DigitalInnovation Business shall, for all purposes,be treatedasanddeemed tobe theprofits,taxes or losses, as the case may be, of theResultingCompany.

c) AllaccretionsanddepletionsinrelationtotheEntertainment & Digital Innovation Businessshallbe forandonaccountof theResultingCompany.

ix. Clause11.2providesthatwitheffectfromtheAppointedDate and upon the Scheme becoming effective,alltaxes,duties,cess,receivables/payablesbyHTMLrelating to the Entertainment & Digital InnovationBusinessincludingalloranyrefunds/credits/claims/tax losses/ unabsorbed depreciation relating theretoshallbetreatedastheassets/liabilityorrefund/credit/claims/ tax losses/ unabsorbed depreciation, as thecasemaybe,oftheResultingCompany.

x. Clause12.1providesthatuponthecomingintoeffectof thisSchemeand in considerationof the transferandvestingoftheEntertainment&DigitalInnovationBusiness of HTML in the Resulting Company, theResulting Company shall, without any further actor deed, issue and allot to the equity shareholdersof HTML, whose names appear in the Register ofEquityShareholdersofHTML,onadate(hereinafterreferredtoas“RecordDate”)tobefixedinthatbehalfbytheBoardofDirectorsofHTMLinconsultationwiththeResultingCompanyforthepurposeofreckoningthenamesoftheequityshareholdersofHTMLinthefollowingproportionnamely,:

“for every 4 (four) equity share of face value ofRs.2/-(Rupeestwoonly)eachheldinHTMLasonthe record date, the equity shareholders of HTMLshall be issued 1 (one) equity share of face valueRs. 2/- (Rupees two only) each credited as fullypaid-upintheResultingCompany.”

InissueandallotmentofsuchsharesoftheResultingCompany to the equity shareholders of HTML, asaforesaid,thefractionalentitlementsshallnotbetakenintoaccount,butsuchsharesrepresentingfractionalentitlements shall be consolidated and thereupon,theResultingCompanywillissueandallotsharesinlieu thereof to a Director or Company Secretary orKeyManagerialPersonneloftheResultingCompanyor such other person as the Board of Directors ofthe Resulting Company shall appoint in this behalfupon trust,whowill sell themon thedateof listingof the Resulting Company or within such period oflistingoftheResultingCompanyasmaybedecidedbytheBoardofDirectorsoftheResultingCompany,anddistributetheirsaleproceeds(lessexpenses,ifany)totheshareholdersofHTML,whoareentitledtosuchfractionalsharesoftheResultingCompany.

xi. Clause 13 provides that on effectiveness of theScheme and with effect from the Appointed Date,HTMLshallaccountforDemergeroftheEntertainment&DigitalInnovationBusinessinitsbooksofaccountin accordance with the Indian Accounting Standard(IND AS) prescribed under Section 133 of theCompanies Act, 2013, as notified under theCompanies (Indian Accounting Standard) Rules,2015 and generally accepted accounted principles,asmaybeamendedfromtimetotime,asunder:

a) All the assets and the liabilities of theEntertainment & Digital Innovation businessbeing transferred shall be reduced at theirBookValueasontheAppointeddate.(otherthaninter-companyloan,ifany,referredtoinClause5.23oftheScheme).

b) The difference between the book value ofassets and book value of liabilities of theEntertainment&DigitalInnovationbusinessasontheAppointeddateshallbeadjustedagainsttheCapitalReserve,totheextentrequired.

c) If considered appropriate for compliance withAccounting Standards, HTML may makesuitableadjustmenttotheaccountingtreatmentand adjust the effect thereof in the mannerdeterminedbytheBoardofDirectorsofHTML.

d) Upon the Scheme being effective, theexisting equity shareholding of HTML in theResulting Company shall stand cancelled.Upon cancellation, HTML shall credit to itsinvestment in the Resulting Company, thevalue of investment held by HTML in theResulting Company, which stands cancelledandthesameshallbedebitedtotheProfit&LossAccountofHTML.

xii. Clause 13 further provides on effectiveness of theSchemeandwitheffectfromtheAppointedDate,sincethe transaction involves entities which are ultimatelycontrolled by the same party before and after thetransaction,theResultingCompanyshallaccountforDemerger of the Entertainment & Digital InnovationBusiness in itsbooksofaccount inaccordancewithAppendixC‘Businesscombinationsofentitiesundercommon control’ of the Indian Accounting Standard

16

(Ind AS) 103 for Business Combination prescribedunder Section 133 of the Companies Act, 2013, asnotified under the Companies (Indian AccountingStandard) Rules, 2015 and generally acceptedaccountedprinciples,asmaybeamendedfromtimetotime,asunder:

a) The Resulting Company shall, record theassets and liabilities of the Entertainment& Digital Innovation business vested in itpursuant to this Scheme at the respectivecarrying amounts appearing in the books ofHTML.

b) TheResultingCompanyshallcredititssharecapitalaccountwiththeaggregatefacevalueof the new equity shares issued by it to theequity shareholders of HTML pursuant toClause12.1ofthisScheme.

c) Thedifferencebetween thecarryingamountoftheassetsandliabilitiesasrecordedunderClause 13.5 of the Scheme and the sharecapital account creditedwithaggregate facevalue of the new equity shares as recordedunder Clause 13.6 of the Scheme shall berecordedasCapitalReserve.

d) If considered appropriate for the purpose ofapplicationofuniformaccountingpoliciesandmethodorforcompliancewiththeapplicableAccounting Standards, the ResultingCompany may make suitable adjustmentand adjust the effect thereof in the mannerdetermined by the Board of Directors of theResultingCompany.

e) UpontheSchemebeingeffective,theexistingshareholding of HTML in the ResultingCompany shall stand cancelled. Uponcancellation, the Resulting Company shalldebittoitsEquityShareCapitalAccount,theaggregatefacevalueofexistingequitysharesheld by HTML in the Resulting Company,which stands cancelled and the same shallbe credited to the Capital Reserves of theResultingCompany.

xiii. Clause14.1(a)providesthatsimultaneouslywiththeissueandallotmentof thenewequitysharesby theResultingCompanytotheequityshareholdersofHTMLinaccordancewithclause12.1oftheScheme,inthebooksof theResultingCompany, anyequity sharesheldbyHTMLintheResultingCompanyshallstandcancelled,extinguishedandannulledonandfromtheEffectiveDate.Thecancellation,asmentionedunderclause 14.1(a) above, which amounts to reductionof share capital of the Resulting Company, shall beeffected as an integral part of this Scheme itself inaccordancewiththeprovisionsofsection66oftheActandtheorderoftheTribunalsanctioningtheSchemeshallbedeemedtobealsotheorderunderSection66oftheActforthepurposeofconfirmingthereduction.Thereductionwouldnotinvolveeitheradiminutionofliabilityinrespectofunpaidsharecapitalorpaymentofpaid-upsharecapital.

xiv. Clause 14.2(a) provides that the reduction underclause13.2intheCapitalReserveaccountofHTMLshallbeeffectedasan integralpartof theSchemeinaccordancewith theprovisionsofSections66ofthe Act and the order of theTribunal, as the casemaybe,asapplicablesanctioningtheSchemeshallbedeemedtobealsotheorderunderSection66oftheAct for thepurposeofconfirming thereduction.TheapprovalgrantedbytheshareholdersofHTMLto theSchemeshallbedeemed tobe theapprovalfor the purpose of Section 66 and other relevantprovisions of the Act. HTML and the ResultingCompanyshallnotbeobligedorrequiredtocallforaseparatemeetingofitsshareholders/creditorsforobtainingtheirapprovalforsanctioningthereductionin capital reserves.The reduction does not involveeither a diminution of liability in respect of unpaidshare capital or payment of paid up share capitalundertheprovisionsofSection66oftheAct.

xv. Clause15.1provides that theRemainingBusiness,andalltheassets,liabilitiesandobligationspertainingthereto,shallcontinuetobelongto,andbevestedinandbemanagedbyHTML,subjecttotheprovisionsoftheSchemeasmaybeapplicable.

xvi. Clause17.1provides thatHTMLand theResultingCompany, by their respective Boards of Directors,may assent to/make and/or consent to anymodifications/amendmentstotheScheme,ortoanyconditionsorlimitationsthattheTribunaland/oranyotherauthority(includingSEBIandstockexchanges)underlawmaydeemfittodirectorimpose,orwhichmay otherwise be considered by them necessary,desirable or appropriate as a result of subsequenteventsorotherwisebythem.

xvii. Clause18providesthatthisSchemeis,andshallbeconditionaluponandsubjectto:

a) Therequisiteconsent,approvalorpermissionfrom BSE, NSE and/or SEBI underRegulation37oftheSecuritiesandExchangeBoard of India (Listing Obligations andDisclosureRequirements)Regulations,2015,whichbylaworotherwisemaybenecessaryfor the implementation of this Scheme incompliance with the provisions of SEBICircular;

b) TheapprovaloftheSchemebytherespectiverequisite majorities in number and value ofthe shareholders and/or creditors (whereapplicable) of theCompanies in accordancewithSection230to232readwithsection66oftheAct;

c) TheSchemebeingsanctionedbytheTribunalin terms of Sections 230 to 232 read withsection66andotherrelevantprovisionsoftheActandtherequisiteordersoftheTribunal;

d) Certifiedcopiesof theordersof theTribunalsanctioning thisSchemebeingfiledwith therelevantRegistrarofCompaniesbyHTMLandtheResultingCompanyaspertheprovisionsoftheAct,and

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e) If any part of this Scheme is found to beunworkable or unviable for any reasonwhatsoever, the same shall not, subjectto the decision of the Board of Directorsof the Companies affect the validity orimplementation of the other parts and/orprovisionsofthisScheme.

f) ThisScheme,althoughtocomeintooperationfrom the Appointed Date, shall not becomeeffectiveuntilthelaterofthefollowingdates,namely:

i. Thatonwhichthelastoftheaforesaidapprovalsandsanctionsasmentionedin Clause 18.1, 18.2 & 18.3 shall beobtainedorpassed;or

ii. That on which all necessaryauthenticated/certified copies of theTribunal Order(s) being filed with therelevant Registrar of Companies bythe Demerged Company and theResultingCompanyrespectively.

Thelastofsuchdatesshallbethe“EffectiveDate”forthepurposeofthisScheme.

xviii. Clause 19.1 provides that in the event of any ofthe said sanctions and approvals referred to inClause18.1,18.2,18.3and18.4notbeingobtainedand/orcompliedwithand/orsatisfied, thisSchemeshall automatically stand revoked, cancelled andbe of no effect, save and except in respect of anyact or deed done prior thereto as is contemplatedhereunder,orastoanyrightsand/orliabilitieswhichmighthavearisenoraccruedpursuantthereto,andwhichshallbegovernedandbepreservedorworkedoutas is specificallyprovided in theSchemeorasmayotherwiseariseinlaw.

xix. Clause 20.1 provides that as an integral part of theSchemeandatanytimepriortotheEffectivedate,thenameof theResultingCompanymaybechanged tosuchothernameasmaybeapprovedbytheBoardoftheResultingCompanyandtheRegistrarofCompanies,subject to the Resulting Company filing necessaryformsandapplicationswiththeRegistrarofCompaniesinthesaidbehalf.ApprovaloftheshareholdersoftheResulting Company and HTML to the Scheme shallbe considered as the approval required under theprovisionsofActforsuchchangeofname.

xx. Clause 20.2 provides that in order to give effectto this Scheme, the authorized share capital ofthe Resulting Company shall be increased fromRs.1,00,000(RupeesOneLakh)toRs.12,00,00,000(RupeesTwelveCrores).

By virtue of Clause 20.2 read with Clause 3.2,Clause(V)ofthememorandumofassociationoftheResultingCompanyshall,withoutanyfurtheractordeed,beamendedaccordinglytoreadasunder:

“V.TheAuthorizedShareCapitaloftheCompanyisRs12,00,00,000(RupeesTwelveCroreonly)dividedinto6,00,00,000(SixCrore)EquitySharesofRs.2/-(RupeesTwoonly)each.”

xxi. Clause 21 provides that all costs, charges, taxesincludingduties,leviesandallotherexpenses,ifany(saveasexpresslyotherwiseagreed)ofHTMLandtheResultingCompanyarisingoutofor incurred inconnectionwithimplementationofthisSchemeandmattersincidentalthereto,shallbebornebyHTML.

THE FEATURES SET OUT HEREIN BEING ONLY THE SALIENT FEATURES OF THE SCHEME. YOU ARE REQUESTED TO READ THE ENTIRE TEXT OF THE SCHEME (ANNEXED HEREWITH) TO GET FULLY ACQUAINTED WITH THE PROVISIONS THEREOF AND THE RATIONALE OF THE SCHEME.

DESCRIPTION OF THE SCHEME

35. “AppointedDate”oftheScheme,isMarch31,2018(atcloseofbusinesshours).

36. “Effective Date” of the Scheme, has been defined as“thedateonwhichthelastoftheconditionsmentionedinClause18ofPartCof theScheme is fulfilledandthe Scheme is made effective with effect from theAppointedDate.”

37. InordertogiveeffecttotheScheme,theauthorizedshare capital of the Resulting Company shall beincreasedfromRs.1,00,000(RupeesOneLakhonly)toRs.12,00,00,000(RupeesTwelveCroresonly).

38. The Share Entitlement Ratio Report datedAugust 25, 2017 issued by M/s Jain Jindal & Co.,Chartered Accountants enclosed as Annexure 2, determines the share entitlement ratio for issue ofsharesbytheResultingCompanytotheshareholdersofHTMLpursuanttoproposeddemerger.Basedonthe same, the Resulting Company shall, issue andallot shares to the equity shareholders of HTML,inthefollowingproportion:

“for every 4 (four) equity share of face value ofRs.2/-(Rupeestwoonly)eachheldinHTMLasonthe record date, the equity shareholders of HTMLshall be issued 1 (one) equity share of face valueRs.2/-(Rupeestwoonly)eachcreditedasfullypaid-upintheResultingCompany.”

39. ItisfurtherprovidedthattheproposedSchemedoesnot contemplate any corporate debt restructuringexercise.

40. Rationale of the Scheme: HTML has variousbusinesses that are complementary in nature.However, they are distinct in terms of their nature,regulatory & competitive environment, risk profile,workforcecapability,capitalrequirementandgrowthtrajectory.

With a view to support the Entertainment & DigitalInnovation Business to capitalize on its growthopportunities, ledbyadedicatedmanagement team,it is proposed to assign a separate identity to thisbusiness by way of its demerger into the ResultingCompany.

The proposed demerger is likely to offer benefitsto HTML and the Resulting Company, as outlinedhereunder:

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(a) TheEntertainment&DigitalInnovationBusinessofHTMLhassignificantpotentialforgrowth.Thenatureofrisk,competition,challenges,opportunitiesandbusinessoperationsoftheEntertainment&DigitalInnovationBusiness is separate and distinct from other businesses of HTML. Thus, the Scheme, which envisagesdemergerofEntertainment&DigitalInnovationBusinessintoaseparatecompany,wouldenablethisbusinesstoinnovate,scaleupandrunindependentlytopursuegrowthopportunitiesinamorefocusedmanner.

(b) Aspartof theResultingCompany, theEntertainment&Digital InnovationBusinessshallbeamenable tobenchmarking,andbeinapositiontoattracttherightsetofinvestors,strategicpartners,employeesandotherrelevantstakeholders.

(c) TherewouldbeenhancedfocusontheoperationsoftheEntertainment&DigitalInnovationBusinessunderadedicatedmanagement teamof theResultingCompany,whocanchartoutandpursuean independentstrategytomaximizevaluecreationforstakeholders.Likewise,therewouldbegreatermanagementfocusontheRemainingBusinesses(asdefinedintheScheme)ofHTML.

(d) ThelistingofsharesofResultingCompanyonstockexchanges,wouldenableindependentbench-markingof Entertainment & Digital Innovation Business, and give a distinct identity to the Entertainment & DigitalInnovationBusinesswhichisindependent,andaccountabletotheinterestofallstakeholdersandthus,wouldprovideenhancedliquiditytotheinvestorsofHTML.

TheSchemewillbeadvantageousandbeneficialforHTMLandtheResultingCompany,theirshareholdersandotherstakeholders,employeesandallconcernedandwillnotbeprejudicialtotheinterestsofanyconcernedshareholdersorcreditorsoremployeesorgeneralpublicatlarge.

41. IncompliancewiththeprovisionsofSection232(2)(c)oftheAct,theBoardofDirectorsofHTMLandtheResultingCompanyhaveintheirseparatemeetingsheldonAugust25,2017,adoptedareport, interalia,explainingeffectof theSchemeon theEquityShareholders (includingPromoter&Non-promoter)andKeyManagerialPersonnel.Copy of the Reports adopted by the Board of Directors of HTML and the Resulting Company are enclosed asAnnexure 7andAnnexure 8,respectively.

42. NoinvestigationproceedingshavebeeninstitutedorarependinginrelationtoHTMLandtheResultingCompanyundertheCompaniesAct,2013.

43. TheSupplementaryunauditedfinancialstatementsofHTMLandtheResultingCompanyfortheperiodendedonDecember31,2017areenclosedasAnnexure 9andAnnexure 10,respectively.

44. In termsofSEBICircular, theapplicable informationof theResultingCompany in the formatspecified forAbridgedProspectusasprovidedinPartDofScheduleVIIIoftheSecuritiesandExchangeBoardofIndia(IssueofCapitalandDisclosureRequirements)Regulations,2009isenclosedasAnnexure 11.

45. StatementdisclosingdetailsoftheArrangementasperSection230(3)oftheCompaniesAct,2013readwithRule6oftheCompanies(Compromises,ArrangementsandAmalgamations)Rules,2016isasunder:

No. Particulars HT Media Limited(Demerged Company)

Digicontent Limited(Resulting Company)

(i) Details of the order of the Tribunal directing the calling, convening and conducting of the meeting of Equity Shareholders:

a. Dateoftheorder(s) March6,2018andApril13,2018 March6,2018

b. Date,timeandvenueoftheMeeting Date–June9,2018Time–11:00a.m.Venue – Siri Fort Auditorium-II,A-25, Balbir Saxena Marg, SiriFort Institutional Area, GulmoharPark,NewDelhi-110049

Meeting dispended with as perthe Order of the Hon’ble NationalCompany Law Tribunal, New DelhiBench

(ii) Detail of the Companies:

a. CorporationIdentificationNumber(CIN)

L22121DL2002PLC117874 U74999DL2017PLC322147

b. PermanentAccountNumber(PAN) AABCH3165P AAECH2819Rc. NameoftheCompany HTMediaLimited DigicontentLimitedd. DateofIncorporation December3,2002 August14,2017e. TypeoftheCompany Publiccompanylimitedbyshares Publiccompanylimitedbysharesf. RegisteredOfficeaddress 18-20, Kasturba Gandhi Marg,

NewDelhi–110001,IndiaHindustan Times House, 2nd Floor,18-20, Kasturba Gandhi Marg,NewDelhi-110001

g. E-mailaddress [email protected] [email protected]

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h. Summaryofmainobjectasperthememorandum of association; andmain business carried on by theCompany

Refer para 9 of the ExplanatoryStatement

Refer para 18 of the ExplanatoryStatement

i. Details of change of name,registered office and objects of theCompanyduringthelastfiveyears

Detailsofchangeintheobjectsareas per para 9 of the ExplanatoryStatement.

TherehasbeennochangeintheName and Registered Office ofHTMLinthelastfiveyears.

The Resulting Company wasincorporated under the name ofHT Digital Ventures Limited.Subsequently, which was changed toDigicontent Limited with effect fromOctober24,2017.

TherehasbeennochangeintheObjectsandRegisteredOfficeof theResultingCompanysinceitsincorporation.

j. Name of stock exchange(s) wheresecuritiesofthecompanyarelisted,ifapplicable

BSE Limited and National StockExchangeofIndiaLimited

Unlisted

k. Detailsofcapitalstructureincludingauthorized, issued, subscribed andpaid-upsharecapital

Refer para 12 of the ExplanatoryStatement and Clause 3.1 of theScheme

Refer para 21 of the ExplanatoryStatement and Clause 3.2 of theScheme

l. Names of the promoters anddirectorsalongwiththeiraddresses

Refer para 13 and para 14respectively of the ExplanatoryStatement

Referpara22andpara23respectivelyoftheExplanatoryStatement

(iii) If the scheme of compromise orarrangement relates to more thanonecompany,thefactanddetailsofanyrelationshipsubsistingbetweensuch companies who are partiesto such scheme of compromise orarrangement, including holding,subsidiaryorassociatecompanies

Referpara25oftheExplanatoryStatement

(iv) Thedateofboardmeetingatwhichthe scheme was approved by theboardofdirectorsincludingthenameof directors who voted in favour oftheresolution,whovotedagainsttheresolution and who did not vote orparticipateonsuchresolution

Refer para 26 of ExplanatoryStatement

Referpara27ofExplanatoryStatement

(v) Explanatory Statement disclosing details of the scheme of compromise or arrangement including:a. Partiesinvolvedinsuchcompromise

orarrangementHTMediaLimited(DemergedCompany)andDigicontentLimited(ResultingCompany)

b. AppointedDate March31,2018(atthecloseofbusinesshours)EffectiveDate The date on which the last of the conditions mentioned in Clause 18 of

PartCoftheSchemeisfulfilledandtheschemeismadeeffectivefromtheappointeddate

Share Entitlement Ratio and otherconsiderations,ifany

Referpara38ofExplanatoryStatement

c. Summary of Valuation report (ifapplicable) including basis ofvaluation and fairness opinion ofthe registered valuer, if any, andthe declaration that the valuationreport is available for inspection atregisteredofficeoftheCompany

Please refer Annexure 2 for the Share Entitlement Ratio report datedAugust25,2017obtainedfromM/sJainJindal&Co.,CharteredAccountantsspecifyingtheshareentitlementratio.

Please refer Annexure 3, for the Fairness opinion obtained fromFinshoreManagementServicesLimiteddatedAugust25,2017.

The Share Entitlement Ratio report is available for inspection at theregisteredofficeofHTMLduring10.00a.m.to4.00p.m.onallworkingdays(exceptSaturdays,SundaysandPublicHolidays)uptothedateofmeeting.

d. Details of capital or debtrestructuring,ifany

NotApplicable

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e. Rationale for the compromise orarrangement

Referpara40oftheExplanatoryStatement

f. Benefits of the compromise orarrangement as perceived by theBoardofdirectors to thecompany,Equity Shareholders, creditors andothers(asapplicable)

Refertherationaleforarrangementoutlinedinpara40oftheExplanatoryStatement.

g. AmountduetoUnsecuredCreditorsasonDecember31,2017

Rs. 14,83,71,36,551/- (RupeesOneThousandandFourHundredandEightyThreeCroresSeventyOne Lakh Thirty Six ThousandFiveHundredandFiftyoneonly).

Theaboveamountincludesalltheunsecured loans, trade creditors,andothercurrent liabilitiesof theCompany, as the case may be,exceptforstatutorydues,deferredrevenueinrelationtogovernmentgrant,provisionforexpensesandadvancesubscriptionreceivedfornewspaper.

Rs. 77,09,28,219/- (Rupees SeventySevenCroresNineLakhsTwentyEightThousand Two Hundred Nineteenonly)

(vi) Disclosure about effect of the compromise or arrangement on:

KeyManagerialPersonnel(KMP) The Scheme will have no effecton KMPs of HTML except tothe extent of their respectiveshareholdinginHTML,ifanyandeffect thereon as stipulated inClause12oftheScheme.

The Resulting Company does nothaveanyKMP.

Directors The Scheme will have no effecton theDirectorsofHTMLexceptto the extent of their respectiveshareholding in HTML, if any,andeffectthereonasstipulatedinClause12oftheScheme.

The Scheme will have no effecton the Directors of the ResultingCompanyexcepttotheextentoftheirrespective shareholding in HTML, ifanyandeffectthereonasstipulatedinClause12oftheScheme.

Promoters and Non-promoterEquityShareholders

On demerger, the ResultingCompany will issue and allot itsequitysharestoeachmemberofHTML, whose name is recordedintheregisterofmembersontheRecord Date, as per the shareentitlement ratio stipulated inClause12oftheScheme.

There would be no dilution orincrease in the shareholding ofHTML’spromoterornon-promotershareholdersinHTML.

As per the Scheme, consequentupon Demerger, the proposedshareholders and their holdingproportion in the ResultingCompany,asontheRecordDate,will be identical to that ofHTML,and thus, the overall economicinterestofequityshareholdersofHTMLshallremainthesame.

The entire equity share capital ofthe Resulting Company is held byHTML (Promoter) and its nominees.The Company does not have anynon-promotershareholders.

UpontheSchemebecomingeffective,the existing equity shares of theResulting Company, held by HTMLalong with its nominees shall standcancelled, extinguished and annulledas stipulated in Clause 14 of theScheme.

Ondemerger,theResultingCompanywillissueandallotitsequitysharestoeachmemberofHTML,whosenameisrecordedintheregisterofmemberson the Record Date, as per theshare entitlement ratio stipulated inClause12oftheScheme.

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Depositors As on date, HTML and the Resulting Company have not accepted anyDeposits.Therefore,theeffectoftheSchemeonDepositorsdoesnotarise.

Creditors Creditors of HTML pertaining tothe Entertainment and DigitalInnovation Business of HTMLshallbecome thecreditorsof theResultingCompany.

No compromise is offeredunder the Scheme to any ofsuch creditors of HTML. Theliability towards such creditorsof HTML, under the Scheme, isneither being reduced nor beingextinguishedandshallbepaidoffintheordinarycourseofbusiness.

Inter-company creditors, if any,wouldgetcancelled.

The Resulting Company has nosecuredcreditors.

Further,undertheScheme,thereisnoarrangementwithunsecuredcreditorsoftheResultingCompany.

The liability towards the unsecuredcreditors of the Resulting Company,under the Scheme, is neither beingreducednorbeingextinguished.

Debentureholders As on date HTML and the Resulting Company have not issued anyDebentures.Therefore,thequestionofeffectoftheSchemeonDebentureholdersdoesnotarise.

Deposit Trustee & DebentureTrustee

As on date, HTML and the Resulting Company have not accepted anyDepositsnorissuedanyDebentures,therefore,theeffectoftheSchemeonsuchDepositTrustee&DebentureTrusteedoesnotarise.

EmployeesoftheCompany All the employees relating tothe Entertainment and DigitalInnovation Business of HTMLshall become the employees oftheResultingCompanyon termsandconditionsnotlessfavourablethan those on which they wereemployed in HTML and withoutany break or interruption ofserviceasstipulated inClause9oftheScheme.

Further, as stipulated inClause 9.5 of the Scheme, theEmployeeStockOptionsasoftheEffectiveDatewouldcontinueontheexisting termsandconditionsexcept for such modifications /adjustments as may be deemedappropriatebytheBoardofHTMLin view of this Scheme and inaccordance with the applicablelaws.

Under the Scheme, no rights of thestaff and employees of the ResultingCompany are being affected.The services of the staff andemployees, if any, of the ResultingCompany,shallcontinueonthesameterms and conditions on which theywereengagedbeforetheScheme.

(vii) Disclosure about effect of compromise or arrangement on material interest of Directors, Key Managerial Personnel (KMP) and Debenture Trustee

DirectorsandKMP None of the Directors nor KMPshave any material interest in theScheme, save to the extent ofshares held by them in HTML,ifany.

None of the Directors have anymaterial interest intheScheme,savetotheextentofsharesheldbythemintheResultingCompany,ifany.

The Resulting Company does nothaveanyKMP.

DebentureTrustee NotApplicable,sinceHTMLandtheResultingCompanieshavenotissuedanydebentures.

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(viii) Investigation or proceedings, ifany,pendingagainst thecompanyundertheAct

No investigation or proceedings are pending against HTML and theResulting Company under the Companies Act, 2013 or under theCompaniesAct,1956.

(ix) Details of approvals, sanctions orno-objection(s), if any, fromregulatory or any othergovernmental authorities required,received or pending for theproposed scheme of compromiseorarrangement

No adverse observation / NOC letter dated December 22, 2017 andDecember26,2017fromNationalStockExchangeof IndiaLimitedandBSELimited,respectively,hasbeenreceivedbyHTML.

NoticeunderSection230(5)oftheCompaniesAct,2013isbeinggiventotheCentralGovernment(RegionalDirector),RegistrarofCompaniesandIncomeTaxAuthoritiesinrespectofboththeCompanies.

(x) A statement to the effect thatthe persons to whom the noticeis sent may vote in the meetingeither in person or by proxies, orwhereapplicable,byvotingthroughelectronicmeans

EquityShareholderstowhomtheNoticeissentmayvoteinthemeetingeitherinpersonorbyproxiesorthroughe-voting.

(xi) The following documents will be open for obtaining extract from or for making or obtaining copies of or inspection by the Equity Shareholders at the Registered Office of HTML, during 10.00 a.m. to 4.00 p.m., on all working days (except Saturdays, Sundays and Public Holidays) upto the date of the Meeting:

a. CopyoftheOrderspassedbyNCLTdatedMarch6,2018andApril13,2018directingtheconveningoftheMeeting

b. CopyoftheSchemeofArrangement

c. LatestAnnualReportincludingtheStandaloneandConsolidatedAuditedFinancialStatementsofHTML

d. Copy of the Share Entitlement Ratio Report issued by M/s Jain Jindal & Co., Chartered Accountants datedAugust25,2017

e. CopyofFairnessOpinionissuedbyFinshoreManagementServicesLimited,aSEBIRegistered(Category-I)MerchantBanker,datedAugust25,2017

f. CopyofCertificates issuedbyStatutoryAuditorsofHTMLandtheResultingCompanytotheeffect that theaccountingtreatment,proposedintheSchemeisinconformitywiththeAccountingStandardsprescribedunderSection133oftheCompaniesAct,2013

g. CopyoftheundertakingandStatutoryAuditor’scertificatedatedAugust25,2017confirmingnon-applicabilityofPara9ofAnnexureItoSEBICircularNo.CFD/DIL3/CIR/2017/21datedMarch10,2017inrespectofProposedSchemeofArrangement

h. CopyofCertificateofIncorporationdatedDecember3,2002alongwiththelatestMemorandumofAssociationandArticlesofAssociationofHTML

i. CopyofBoardResolutionsdatedAugust25,2017passedbytherespectiveBoardofDirectorsofHTMLandtheResultingCompany,inter-alia,approvingtheScheme

j. CopyoftheReportdatedAugust25,2017oftheAuditCommitteeofDirectorsofHTMLrecommendingthedraftScheme

46. ItisconfirmedthatthecopyoftheSchemehasbeenfiledwiththeRegistrarofCompanies,NewDelhibybothHTMLandtheResultingCompany.IncompliancewiththerequirementofSection230(5)oftheCompaniesAct,2013andRule6oftheCompanies(Compromises,ArrangementsandAmalgamations)Rules,2016,noticeintheprescribedformandseekingapprovals,sanctionsorno-objectionsshallbeservedtotheconcernedregulatoryandgovernmentauthoritiesforthepurposeoftheproposedScheme.

47. Nootherapprovalfromregulatorsorgovernmentalauthoritiesarerequiredatthisstage,noranyhavebeenreceivedorarependinginrespectoftheproposedScheme.

48. The pre-scheme shareholding pattern of HTML and the Resulting Company as on March 31, 2018 and thepost-scheme(expected)shareholdingpatternofHTMLandtheResultingCompanyareasunder:

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Pre-Scheme Shareholding Pattern of HTML as on March 31, 2018:

S. No.

Category No. of fully paid-up equity shares held (Face value of

Rs. 2/- each)

Shareholding as a % of the total no. of shares

(A) Promoter & Promoter Group

(1) Indian

(a) Individuals/HinduUndividedFamily 22 0.00

(b) BodiesCorporate 16,17,54,490 69.50

Sub-Total (A)(1) 16,17,54,512 69.50

(2) Foreign

(a) BodiesCorporate 22,581 0.01

Sub-Total (A)(2) 22,581 0.01

Total shareholding of Promoter and Promoter Group (A) = (A)(1)+(A)(2)

16,17,77,093 69.51

(B) Public Shareholding

(1) Institutions

(a) MutualFunds 1,52,14,363 6.54

(b) AlternateInvestmentFunds 9,05,227 0.39

(c) ForeignPortfolioInvestments 1,90,64,618 8.19

(d) FinancialInstitutions/Banks 2,61,531 0.11

(e) InsuranceCompanies 56,65,000 2.43

(f) AnyOther 375 0.00

Sub-Total (B)(1) 4,11,11,114 17.66

(2) Central Government/ State Government(s)/PresidentofIndia

Sub-Total (B)(2) 0 0.00

(3) Non-Institutions

(a) (i) Individual shareholders holding nominal sharecapitaluptoRs.2Lacs

1,42,54,656 6.12

(ii) Individual shareholders holding nominal sharecapitalinexcessofRs.2Lacs

56,40,581 2.42

(b) NBFCsregisteredwithRBI 1,07,400 0.05

(c) AnyOther

Trusts 2,140 0.00

NRI 6,09,516 0.26

ClearingMembers 1,00,402 0.04

NRINon-Repatriable 12,93,384 0.56

BodiesCorporate 56,65,288 2.44

IEPF 8,450 0.00

Sub-Total (B)(3) 2,76,81,817 11.89

Total Public shareholding (B) = (B)(1)+(B)(2)+(B)(3)

6,87,92,931 29.55

(C) Non Promoter-Non Public (C) 21,78,290 0.94

Total Shareholding (A+B+C) 23,27,48,314 100.00

Note:Since,thereisnoissueofsharesbyHTMLpursuanttotheScheme,hence,thepostarrangementShareholdingPatternwillremainunchanged(save and except routine transfer of shares in physical/demat form).

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Pre-Scheme Shareholding Pattern of the Resulting Company as on March 31, 2018:

S. No. Category No. of fully paid-up equity shares held (Face value of

Rs. 2/- each)


(A) Promoter & Promoter Group(1) Indian(a) Individuals/HinduUndividedFamily *30 0.06(b) BodiesCorporate 49,970 99.94

Sub-Total (A)(1) 50,000 100.00

*Shares held as nominee(s) of HTML

Post-Scheme Shareholding Pattern of the Resulting Company (assuming the shareholding pattern of HTML as on March 31, 2018):

S. No.

Category No. of fully paid-up equity shares held (Face value of

Rs. 2/- each)


(A) Promoter & Promoter Group(1) Indian(a) Individuals/HinduUndividedFamily 5 0.00(b) BodiesCorporate 4,04,38,623 69.50

Sub-Total (A)(1) 4,04,38,628 69.50(2) Foreign(a) BodiesCorporate 5,645 0.01

Sub-Total (A)(2) 5,645 0.01Total shareholding of Promoter and Promoter Group (A) = (A)(1)+(A)(2)

4,04,44,273 69.51

(B) Public Shareholding(1) Institutions(a) MutualFunds 38,03,591 6.54(b) AlternateInvestmentFunds 2,26,307 0.39(c) ForeignPortfolioInvestments 47,66,154 8.19(d) FinancialInstitutions/Banks 65,383 0.11(e) InsuranceCompanies 14,16,250 2.43(f) AnyOther 94 0.00

Sub-Total (B)(1) 1,02,77,779 17.66(2) CentralGovernment/StateGovernment(s)/President

ofIndia0 0.00

Sub-Total (B)(2) 0 0.00(3) Non-Institutions(a) (i) Individual shareholders holding nominal share

capitaluptoRs.2Lacs35,63,664 6.12

(ii) Individual shareholders holding nominal sharecapitalinexcessofRs.2Lacs

14,10,145 2.42

(b) NBFCsregisteredwithRBI 26,850 0.05(c) AnyOther

Trusts 535 0.00

NRI 1,52,379 0.26ClearingMembers 25,101 0.04NRINon-Repatriable 3,23,346 0.56BodiesCorporate 14,16,322 2.44IEPF 2,112 0.00Sub-Total (B)(3) 69,20,454 11.89Total Public shareholding (B) = (B)(1)+(B)(2)+(B)(3) 1,71,98,233 29.55

(C) Non Promoter-Non Public (C) 5,44,572 0.94Total Shareholding (A+B+C) 5,81,87,078 100.00

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49. ThePost-SchemesharecapitalstructureofHTMLwillbeasunder:




Total 72,50,00,000/-



Total 46,54,96,628/-

50. ThePost-SchemesharecapitalstructureoftheResultingCompanywillbeasunder:

Particulars Amount (in Rs )



Total 12,00,00,000/-



Total 11,63,74,156/-

51. IntheeventthattheSchemeiswithdrawninaccordancewithitsterms,theSchemeshallstandrevoked,cancelledandbeofnoeffect.

52. Inviewoftheinformationprovidedhereinabove,andthedocumentsattachedalongwiththisNoticeandExplanatoryStatement,therequirementofSection232(2)oftheCompaniesAct,2013havebeencompliedwith.

53. AftertheSchemeisapprovedbytheequityshareholders,securedcreditorsandunsecuredcreditorsoftheHTML,itwillbesubjecttotheapproval/sanctionbyNCLT.

ForHT Media Limited

Dinesh MittalWhole-time Director,Group General Counsel & Company Secretary

Date:April30,2018

Registered Office:18-20,KasturbaGandhiMarg,NewDelhi–110001

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Annexure-1

SCHEME OF ARRANGEMENT

BETWEEN

HT MEDIA LIMITED (DEMERGED COMPANY)

AND

DIGICONTENT LIMITED (RESULTING COMPANY)[FORMERLY KNOWN AS HT DIGITAL VENTURES LIMITED]

AND

THEIR RESPECTIVE SHAREHOLDERS AND CREDITORS

UNDER SECTIONS 230 TO 232 OF THE COMPANIES ACT, 2013READ WITH SECTION 66 OF THE COMPANIES ACT, 2013

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PREAMBLE

This Scheme (hereinafter defined) is presentedunderSections230to232readwithSection66andother applicable provisions of the Act (hereinafterdefined), for transferandvestingofEntertainment&Digital InnovationBusiness(hereinafterdefined)of HTML (hereinafter defined) to the ResultingCompany (hereinafter defined) with effect fromthe Appointed Date (hereinafter defined), anduponeffectivenessoftheSchemeontheEffectiveDate(hereinafterdefined). Inaddition, theSchemealsoprovidesforvariousothermattersconsequentialand/orotherwiseintegrallyconnectedherewith.

A. Background

1. HT Media Limited (“HTML” or the “Demerged Company”) is a public limitedcompany incorporated under the provisionsof the Companies Act, 1956 on December03, 2002 bearing Corporate IdentificationNumber L22121DL2002PLC117874. TheregisteredofficeofHTMLissituatedat18-20,KasturbaGandhiMarg,NewDelhi–110001.ThecorrespondenceemailaddressofHTMLis [email protected] equityshares of HTML are listed on BSE Limited(“BSE”)&NationalStockExchangeof IndiaLimited(“NSE”).

HTML is engaged in the following keybusinesses:

a) Printingandpublicationofnewspapersandperiodicals

b) FMRadioBroadcastingc) Entertainment & Digital Innovation

Businessd) OperatingOnlinejobportal“shine.com”

2. Digicontent Limited (“DCL” or the “Resulting Company”) is a public limitedcompany incorporated under the provisionsofCompaniesAct,2013onAugust14,2017bearing Corporate Identification NumberU74999DL2017PLC322147under thenameof HT Digital Ventures Limited (“HTDVL”).Subsequently, the name was changed toDigicontentLimitedwitheffect fromOctober24,2017.TheregisteredofficeoftheResultingCompany is situated at Hindustan TimesHouse, 2nd Floor, 18-20, Kasturba GandhiMarg,NewDelhi-110001.Thecorrespondenceemail address of the Resulting Company [email protected] subsidiary of HTML and has beenrecently incorporated. The Entertainment &

Digital Innovation Business is proposed tobe demerged and vested into the ResultingCompany.

B. Rationale for the Scheme of Arrangement

HTML has various businesses that arecomplementary innature.However, theyaredistinct in terms of their nature, regulatory& competitive environment, risk profile,workforcecapability,capitalrequirementandgrowthtrajectory.

Witha view to support theEntertainment&Digital Innovation Business to capitalize onits growth opportunities, led by a dedicatedmanagementteam,itisproposedtoassignaseparateidentitytothisbusinessbywayofitsdemergerintotheResultingCompany.

The proposed demerger is likely to offerbenefitstoHTMLandtheResultingCompany,asoutlinedhereunder:

a. TheEntertainment&DigitalInnovationBusiness of HTML has significantpotentialforgrowth.Thenatureofrisk,competition, challenges, opportunitiesand business operations of theEntertainment & Digital InnovationBusinessisseparateanddistinctfromother businesses of HTML. Thus, theScheme, which envisages demergerof Entertainment & Digital InnovationBusiness into a separate company,wouldenablethisbusinesstoinnovate,scale up and run independently topursuegrowthopportunities inamorefocusedmanner.

b. As part of the Resulting Company,theEntertainment&Digital InnovationBusiness shall be amenable tobenchmarking, and be in a positionto attract the right set of investors,strategic partners, employees andotherrelevantstakeholders.

c. There would be enhanced focus onthe operations of the Entertainment& Digital Innovation Business undera dedicated management team ofthe Resulting Company, who canchart out and pursue an independentstrategy to maximize value creationforstakeholders.Likewise,therewouldbe greater management focus onthe Remaining Business (hereinafterdefined)ofHTML.

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d. The listing of shares of the ResultingCompany on stock exchanges, wouldenable independent bench-markingof Entertainment & Digital InnovationBusiness,andgiveadistinctidentitytotheEntertainment&Digital InnovationBusiness which is independent, andaccountable to the interest of allstakeholders and thus, would provideenhanced liquidity to the investors ofHTML.

There is no adverse effect of Scheme on thedirectors, key managerial personnel, promoters,non-promotershareholders,creditors,vendorsandemployees of HTML and the Resulting Company.The Scheme would be in the best interest of allstakeholders.

PursuanttothisScheme,allshareholdersofHTMLshall be entitled to equity shares in the ResultingCompanyonapro-ratabasisonthetermsspecifiedinthisScheme.

Accordingly,theBoardofDirectorsofHTMLandtheResultingCompanyhavedecidedtomakerequisiteapplications and/or petitions before the Tribunal(hereinafterdefined),asapplicableunderSections230to232oftheAct(hereinafterdefined)readwithsection66oftheActandotherapplicableprovisionsforthesanctionofthisScheme.

C. Treatment of Scheme for the purposes of Income-Tax Act, 1961

The provisions of this Scheme have beendrawn up to comply with the conditionsrelating to “Demerger” as defined underSection 2(19AA) of the Income-tax Act,1961(“ITAct”). Ifanytermsorprovisionsofthe Scheme are found or interpreted to beinconsistent with the provisions of the saidSection at a later date, including resultingfrom anamendment of law or for anyotherreasonwhatsoever,theprovisionsofthesaidSection of the IT Act shall prevail, and theScheme shall stand modified to the extentdeterminednecessarytocomplywithSection2(19AA)of the ITAct.Suchmodification(s),will,however,notaffect theotherprovisionsoftheScheme.

D. The Scheme is divided into the following parts:

PART A deals with Definition and ShareCapitalofthecompanies.

PART B dealswith the transfer and vestingof the Entertainment & Digital Innovation

Business (hereinafter defined) of HTMLto and with the Resulting Company inaccordancewithSections230 to232of theAct(hereinafterdefined)readwithSection66oftheAct,otherapplicableprovisionsoftheActand/orthe1956Act(hereinafterdefined),and in accordance with Section 2(19AA) oftheITAct.

PART C deals with general terms andconditions that would be applicable to theScheme.

PART A

DEFINITION AND SHARE CAPITAL1. DEFINITIONS

In thisScheme,unless inconsistentwith thesubject, following expressions shall havethe meanings respectively assigned againstthem:

1.1 “the Act”means theCompaniesAct,2013,asnotified,andordinances,rulesandregulationsmadeandnotifications,circulars etc. issued thereunder, andshallincludeanystatutorymodifications,re-enactmentsoramendmentsthereof.

1.2 “1956 Act”meanstheCompaniesAct,1956 (as applicable) and ordinances,rulesandregulationsmadethereunder,and shall include any statutorymodifications, re-enactments oramendmentsthereof.

1.3 “Appointed Date” shall mean March31,2018(atcloseofbusinesshours).

1.4 “Board of Directors” or “Board”means and includes the respectiveBoards of Directors of the DemergedCompanyandtheResultingCompanyor any committee constituted by suchBoardofDirectorsfor thepurposesoftheScheme.

1.5 “Clause” and “Sub Clause” meanstherelevantclause/subclausesetoutintheScheme.

1.6 “Entertainment & Digital Innovation Business of HTML” or “Entertainment & Digital Innovation Business”meansall, the businesses, undertakings,activities, assets, properties andliabilities, of whatsoever nature andkind and where so ever situated, ofHTMLpertaining to theEntertainment

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&DigitalInnovationBusiness,includingspecificallythefollowing:

1.6.1FeverAudioTools foraggregationandcreation of audio, audio feed whichplays music and promotional talksacrossvariousstores,malls,buildings,restaurants, eateries, etc., distributionof in-house creative and niche celebbased content to mobile and digitalusers,innovativetoolstobuild,promoteand amplify brand communicationand deliver it with a greater impactand credibility; strategic investmentsin multimedia content managementbusiness, movie review and ratingentertainment platform and the digitalrepositoryofimages;

1.6.2 All immovable properties i.e. landtogether with the buildings andstructures standing thereon (whetherfreehold,leasehold,leaveandlicensed,right of way, tenancies or otherwise),benefits of any rental agreement foruse of premises, marketing offices,share of any joint assets, etc., whichimmovable properties are being usedfor the purpose of and in relation totheEntertainment&Digital InnovationBusinessandalldocuments(includingpanchnamas,declarations,receipts)oftitle, rights and easements in relationthereto and all rights, covenants,continuing rights, title and interest inconnection with the said immovableproperties;

1.6.3 All assets, as are movable in naturepertaining to and in relation to theEntertainment & Digital InnovationBusiness, whether present orfuture or contingent, tangible orintangible, in possession or reversion,corporeal or incorporeal (includingplant and machinery, capital workin progress, stores under progress,electrical fittings, furniture, fixtures,appliances, accessories, powerlines, office equipments, computers,communication facilities, installations,vehicles,inventory,hardware&softwareand tools and plants, stock-in-trade,stock-in-transit, rawmaterials,finishedgood packaging items), actionableclaims,currentassets,earnestmoniesand sundry debtors, investments,

financial assets, outstanding loansand advances, recoverable in cashor in kind or for value to be received,provisions, receivables, funds, cashand bank balances and depositsincluding accrued interest theretowith Government, semi-Government,local and other authorities andbodies, banks, customers and otherpersons, insurances, the benefits ofany bank guarantees, performanceguarantees and letters of credit, andtax related assets, including but notlimited to Goods and Services taxcredits,CENVATcredits,valueadded/sales tax/entry tax credits or set-offs,advance tax, minimum alternate taxcredit,deferredtaxassets/liabilities,taxdeductedatsourceandtaxrefunds;

1.6.4 All permits, licenses, permissionsincluding municipal permissions,right of way, approvals, clearances,consents,benefits,registrations,rights,entitlements, credits, certificates,awards, sanctions,allotments,quotas,no objection certificates, exemptions,concessions, subsidies, libertiesand advantages (including consent/authorisation granted by relevantauthorities and other licenses/permits granted/issued/ given by anygovernmental, statutory or regulatoryor local or administrative bodiesfor the purpose of carrying on theEntertainment & Digital InnovationBusiness or in connection therewith)including those relating to privileges,powers, facilities of every kind anddescription of whatsoever natureand the benefits thereto that pertainexclusively to the Entertainment &DigitalInnovationBusiness;

1.6.5 All contracts, agreements, purchaseorders/service orders, operation andmaintenance contracts, memorandaof understanding, memorandaof undertakings, memoranda ofagreements, memoranda of agreedpoints, minutes of meetings, bids,tenders,expressionofinterest,letterofintent,hireandpurchasearrangements,lease/license agreements, tenancyrights, agreements/panchnamas forright of way, equipment purchase

30

agreements,agreementwithcustomers,purchase and other agreements withthe supplier/manufacturer of goods/serviceproviders,otherarrangements,undertakings,deeds,bonds,schemes,insurance covers and claims,clearances and other instruments ofwhatsoever nature and description,whetherwritten,oralorotherwiseandall rights, title, interests, claims andbenefits thereunder pertaining to theEntertainment & Digital InnovationBusiness;

1.6.6 All applications (including hardware,software, licenses, source codes,parameterization and scripts),registrations, licenses, trade names,servicemarks,trademarks,copyrights,patents, domain names, websites,designs,contracts,intellectualpropertyrights (whether owned, licensed orotherwise, and whether registered orunregistered), trade secrets, researchand studies, technical knowhow,confidential information and all suchrights of whatsoever description andnature that pertain exclusively to theEntertainment & Digital InnovationBusiness;

1.6.7 All rights touseandavail telephones,telexes, facsimile, email, Internet,leased line connections andinstallations, utilities, electricity andother services, reserves, provisions,funds,benefitsofassetsorpropertiesor other interests held in trusts,registrations, contracts, engagements,arrangementsofallkind,privilegesandall other rights, easements, libertiesand advantages of whatsoever natureand wheresoever situated belongingto or in the ownership, power orpossessionandincontroloforvestedinorgrantedinfavouroforenjoyedbyHTML pertaining to or in connectionwith or relating to the Entertainment& Digital Innovation Business and allother interests of whatsoever naturebelonging to or in the ownership,power, possession or control of orvestedinorgrantedinfavouroforheldfor thebenefitoforenjoyedbyHTMLandpertaining to theEntertainment&DigitalInnovationBusiness;

1.6.8 All books, records, files, papers,engineering and process information,software licenses(whetherproprietaryor otherwise), test reports, computerprogrammes, drawings, manuals,data, databases including databasesfor procurement, commercial andmanagement, catalogues, quotations,sales and advertising materials,product’ registrations, dossiers,product master cards, lists of presentand former customers and suppliersincluding service providers, othercustomer information, customer creditinformation, customer/supplier pricinginformation, and all other booksand records, whether in physical orelectronic form that pertain to theEntertainment & Digital InnovationBusiness;

1.6.9 Alldebts,liabilitiesincludingcontingentliabilities,duties, taxesandobligationsofHTMLpertainingtotheEntertainment& Digital Innovation Business and/orarising out of and/or relatable to theEntertainment & Digital InnovationBusinessincluding:

a) the debts, liabilities, duties andobligations of HTML which arises outof the activities or operations of theEntertainment & Digital InnovationBusiness;

b) specific loans and borrowings raised,incurred and utilized solely for theactivitiesoroperationsoforpertainingtotheEntertainment&DigitalInnovationBusiness;and

c) liabilities other than those referred toin sub-clauses a) and b) above andnotdirectlyrelatableto theRemainingBusinessofHTML,beingtheamountsofgeneralandmultipurposeborrowingsof HTML shall be allocated to theEntertainment & Digital InnovationBusinessinthesameproportionwhichthe value of assets transferred underthisSchemebearstothetotalvalueofHTMLimmediatelybeforegivingeffecttoPartBoftheScheme.

1.6.10 All employees of HTML employed/engagedintheEntertainment&DigitalInnovationBusinessasontheEffectiveDate(“Employees”);and

31

1.6.11 All legal or other proceedings ofwhatsoever nature that pertain to theEntertainment & Digital InnovationBusiness.

1.7 “Demerged Company” shallmeanHTMediaLimited(“HTML”).

1.8 “Effective Date” means the dateon which the last of the conditionsmentioned in Clause 18 of Part C oftheSchemeisfulfilledandtheSchemeis made effective with effect from theAppointedDate.AnyreferencesinthisScheme to the “date of coming intoeffectofthisScheme”or“effectivenessof the Scheme” or “Scheme takingeffect”shallmeantheEffectiveDate.

1.9 “ESOP Plans” shallmean,collectivelyall Employee Stock Option SchemesapprovedbytheBoardofDirectorsandshareholders of HTML, as amended,modifiedorreplacedfromtimetotime.

1.10 “National Company Law Tribunal” or “NCLT” or “Tribunal” means theNational Company Law Tribunal,New Delhi Bench or any other benchhaving jurisdictionover theDemergedCompanyand/orResultingCompany.

1.11 “Record Date” means the datefixed by the Board of Directors of theResulting Company or any committeethereof, in consultation with theDemerged Company, for the purposeofdeterminingnamesofthemembersof theDemergedCompany,whoshallbeentitledtoreceivetheequitysharesin the Resulting Company pursuantto Clause 12.1 of the Scheme, uponeffectivenessofthisScheme.

1.12 “Remaining Business” means allassets,liabilities,businesses,activitiesand operations of the DemergedCompanyotherthantheEntertainment&DigitalInnovationBusiness.

1.13 “Resulting Company” meansDigicontent Limited (“DCL”), formerlyknown as HT DigitalVentures Limited(“HTDVL”).

1.14 “Scheme” or “the Scheme” or“this Scheme” or “the Composite Scheme” means this Scheme ofArrangement among the DemergedCompany, the Resulting Company

and their respective shareholdersandcreditorspursuant to theprovisionsofSections230to232readwithsection66 and other applicable provisions ofthe Act or the 1956 Act, as the casemaybe,initspresentformorwithanymodification(s) made under Clause17 of the Scheme by the Board ofDirectors of the Demerged CompanyandtheResultingCompany,and/orasapprovedordirectedbytheTribunal,asthecasemaybe.

1.15 “SEBI” means Securities andExchange Board of India establishedunder the Securities and ExchangeBoardofIndiaAct,1992.

1.16 “SEBI Circulars” means Circular No.CFD/DIL3/CIR/2017/21 dated March10, 2017, issued by SEBI and asamendedfromtimetotimeoranyothercircular(s)issuedbySEBIapplicabletoaschemeofarrangement.

1.17 All terms and words not defined inthis Scheme shall, unless repugnantor contrary to the context or meaningthereof, have the same meaningascribed to them under the Act, theSecurities Contract Regulation Act,1956,theDepositoriesAct,1996,SEBICirculars and other applicable laws,rules,regulations,bye-laws,asthecasemaybeoranystatutorymodificationorreenactmentthereoffromtimetotime.

2. DATE OF TAKING EFFECT AND OPERATIVE DATE

The Scheme set out herein, in its presentform or with any modification(s) andamendments(s) made under Clause 17 ofthe Scheme or as approved or imposed ordirectedbytheTribunal,asthecasemaybeand applicable, shall be effective from theAppointedDate,butshallbemadeoperativefromtheEffectiveDate.

3. CAPITAL STRUCTURE OF THE COMPANIES

3.1 ThesharecapitalofHTMLasatMarch31,2017isasunder:

32

Particulars Amount (Rs.)

AuthorizedShareCapital36,25,00,000 Eq-uitySharesofRs.2/-each

72,50,00,000/-

Total 72,50,00,000/-Issued, Subscribedand Paid Up ShareCapital23,27,48,314EquityShares of Rs.2/-eachfullypaidup

46,54,96,628/-

Total 46,54,96,628/-

Since March 31, 2017 and as on thedate of filing of this Scheme, there isno change in the capital structure ofHTML.

3.2 The share capital of the ResultingCompanyasatAugust14,2017 isasunder:


Authorized Share Capital

10,000 EquityShares of Rs. 10/-each

1,00,000/-

Total 1,00,000/-

Issued, Subscribed and Paid Up Share Capital

10,000 EquityShares of Rs. 10/-eachfullypaidup

1,00,000/-

Total 1,00,000/-

The entire issued, subscribed andpaidupsharecapital of theResultingCompany is presently held by HTMLand its nominees and hence, theResultingCompanyisawhollyownedsubsidiaryofHTML.

Since August 14, 2017 the ResultingCompany has sub-divided its equityshares to a face value of Rs. 2/- perequity share from Rs10/- per equityshare.

The existing Share Capital of theResultingCompanyisasunder:


Authorized Share Capital

50,000 Equity SharesofRs.2/-each

1,00,000/-

Total 1,00,000/-

Issued, Subscribed and Paid Up Share Capital

50,000 Equity Sharesof Rs. 2/- each fullypaidup

1,00,000/-

Total 1,00,000/-

4. MAIN OBJECTS

4.1 ThemainobjectsofHTMLasonthedateoffilingoftheSchemeareasfollows:

1. To print, publish and conduct for sale one or more newspapers and other periodicals including magazines, books, pamphlets or any other publication in English, Hindi or any other language, anywhere in India, either daily or otherwise.

2. To manufacture, produce, exhibit, distribute, buy and sell, assign, licence, telecast, broadcast news and current affairs, television films, commercial films, video films, video magazines and to engage in other similar activities related thereto.

3. To engage in the business of dissemination of news, knowledge and information of general interest, across the globe, through web-page design, creation, hosting and any business relating to the Internet or email, networking and communication environments.

4. To engage in the business of radio broadcast and all other allied activities including producing buying, selling and distribution of radio programs.

5. To carry on in India and elsewhere the business to produce, promote, manage, project, procure or acquire rights, participate, manufacture, process,

33

prepare, alter, develop, expose, edit, exhibit, broadcast, transmit, make, remake, display, print, reprint, convert, duplicate, finish, buy, sell, run, import, export and deal in any manner, to act as broker, agent, distributor, proprietor, organizers, promoters, sponsors, copyright owners, audio & video right owners, media partners and media advisors of all kinds of live and recorded sports, entertainment events, news & current affair events, summits, pageants, concerts, shows, exhibitions, premiers in all languages in India or elsewhere.

6. To carry on business as advertising agent, to purchase and sell advertising time or space on any media like, newspaper, magazine, pamphlet, publications, television, radio, mobile, Internet, satellite in India or abroad or any other kind of media currently in vogue or which may be in vogue at any time, and to act as agent or representative for any person(s) or entities for soliciting/booking advertisements and/or any other promotional, commercial and other programmes on any form of media or medium including collection of charges and remittances thereof to principals and any other activities related to or necessary in the context of the said business.

4.2 Themainobjectsof theResultingCompanyasonthedateoffilingoftheSchemeareasfollows:

1. To engage in, deal, carry out any activity or business in the digital media space and electronic media, for creation, dissemination and/or integration of news, knowledge, information, entertainment, brand/event promotion and content of general interest, in English, Hindi or any other language, across the globe through networking, telecom, web-page design, creation, hosting, radio, television and/or any other mode of communication whether currently in vogue or which may be in vogue in the future.

2. To carry on in India or elsewhere, the business to produce, promote, manage, project, procure, acquire

rights, develop digital and other tools, create, curate, edit, aggregate, digital content (including photo, audio and video content) and/or to participate in, manufacture, process, aggregate, accumulate, syndicate, prepare, alter, develop, edit, exhibit, broadcast, transmit, make, remake, display, print, reprint, convert, duplicate, finish, buy, sell, promote, run, import, export, act as broker, agent, distributor, proprietor, organizers, promoter, sponsors, copyright owner, audio & video right owner, media partners / advisors or deal in any manner, in all kinds of audio, video, photo or digital content, live and recorded sports, entertainment events, music, news & current affairs events, summits, pageants, concerts, shows, exhibitions, premiers, in all languages in India or elsewhere.

3. To carry on by itself, or through franchisees or licensees, classified advertisement business including but not limited to jobs, education, property, automobile, matrimonial, travel, sale or purchase of merchandise and/or providing services in relation thereto, through internet or any other digital medium; to provide web-based services, including but not limited to gaming, blogging, audio-video streaming etc. by designing, creating, hosting, servicing web-sites or any other platform, establishing, providing, operating and managing, e-commerce, direct-to-home, m-commerce platforms, for sale of all categories of products and / or services; to create, develop and market any technology for facilitation of mobile or electronic or internet based payments or any other technology based payments for transactions, whether currently in vogue or which may be in vogue in the future.

4. To carry on any business relating to Internet or e-mail, networking and communication environments, including but not limited to search engines, jobs, education, property, automobile, classifieds, matrimonial, travel, sale/purchase of merchandise and/or providing services etc. through internet/on-line medium and/or to

34

provide various web-based services, including but not limited to gaming, blogging, audio/video streaming etc. by designing, creating, hosting, servicing etc. appropriate web-sites, merchandising the web-sites or any other internet based media, to be the licensee of different web-sites, to manage, operate and maintain web-sites of different types (content, technical or otherwise) web related products or internet related activities and to execute e-commerce, e-logic, e-solutions, business of internet service, electronic mail service, facsimile service, content marketing efficiency model, content and event aggregation for online medium and/or mobile applications, providing or engaging in business of m-commerce solutions, providing content for value added services in mobile telephones and/or other communication systems and to carry on any internet, web-based or any other prevalent or future technology based business.

5. To carry on the business to act as advisors, consultants, guides, executants, agents, liaison representatives or in any other manner, for marketing promotion and/or brand promotion, including business-to-business solutions of any product, person, entity, advertisement and public relations agency, government and non-governmental organization, through all communication mediums, including but not limited to newspaper, magazine, pamphlet, publications, television, events, conferences, radio, mobile, internet, satellite in India or abroad or any other kind of media currently in vogue or which may be in vogue in the future.

PART B

TRANSFER AND VESTING OF ENTERTAINMENT & DIGITAL INNOVATION

BUSINESS OF HTML TO AND WITH THE RESULTING COMPANY

5. TRANSFER AND VESTING OF ENTERTAINMENT & DIGITAL INNOVATION BUSINESS FROM DEMERGED COMPANY TO RESULTING COMPANY

5.1 Upon the coming into effect of thisScheme and with effect from theAppointed Date, the “Entertainment &Digital Innovation Business” (includingall the estate, assets, rights, claims,title, interest and authorities includingaccretions and appurtenances of the“Entertainment & Digital InnovationBusiness”) shall, without any furtheract, instrument, deed, matter orthing, be demerged from HTML andstand transferred toandvested in theResulting Company or be deemedto have been demerged from HTML,and transferred to and vested inthe Resulting Company as a goingconcern,soastobecomeasandfromtheAppointedDate,theestate,assets,rights, claims, title, interests andauthorities of the Resulting Company,pursuanttoSection232oftheAct.

5.2 InrespectofsuchoftheassetsoftheEntertainment & Digital InnovationBusiness as are movable in natureand/or otherwise capable of transferby manual or constructive delivery ofpossession and/or by endorsementand delivery, the same shall be sotransferred by HTML to the ResultingCompanyuponthecomingintoeffectofthisSchemepursuanttotheprovisionsof Section 232 of the Act, withoutrequiring any deed or instrument ofconveyance for transfer of the same,and shall become the property of theResulting Company as an integralpart of the Entertainment & DigitalInnovationBusiness.

5.3 In respect of the movable assetsother than those dealt with in clause5.2above, includingbut not limited tosundrydebts,actionableclaims,earnestmonies, receivables, bills, credits,loans,advancesanddepositswiththeGovernment, semi-Government, localand any other authorities and bodiesand/or customers, if any, whetherrecoverable in cash or in kind or forvalue to be received, bank balances,etc.thesameshallstandtransferredtoandvested in theResultingCompanywithout any notice or other intimationto any person in pursuance of theprovisionsofSections230to232read

35

with Section 66 and other relevantprovisions of the Act, to the end andintentthattherightofHTMLtorecoverorrealizethesamestandstransferredto the Resulting Company. TheResulting Company shall, at its solediscretion but without being obliged,give notice in such form as it maydeem fit and proper, to such person,asthecasemaybe,thatthesaiddebt,receivable, bill, credit, loan, advanceor deposit stands transferred to andvested in theResultingCompanyandthatappropriatemodificationshouldbemadeintheirrespectivebooks/recordstoreflecttheaforesaidchanges.

5.4 In respect of such of the assetsbelonging to the Entertainment &Digital Innovation Business otherthan those referred to in clause 5.2and 5.3 above, the same shall, asmore particularly provided in clause5.1 above, without any further act,instrumentordeed,bedemergedfromHTML and transferred to and vestedinand/orbedeemed tobedemergedfrom HTML and transferred to andvestedintheResultingCompanyuponthe coming into effect of this SchemeandwitheffectfromtheAppointedDatepursuant to theprovisionsofSections230-232oftheAct.

5.5 All assets, rights, title, interests andinvestments of HTML in relation totheEntertainment&Digital InnovationBusiness shall also without anyfurther act, instrument or deed standtransferred to and vested in and bedeemedtohavebeentransferredtoandvestedintheResultingCompanyuponthe coming into effect of this SchemeandwitheffectfromtheAppointedDatepursuant to theprovisionsofSections230to232oftheAct.

5.6 Without prejudice to the generality ofthe foregoing, upon the coming intoeffect of this Scheme, all the rights,title,interestandclaimsofHTMLinanyleasehold/leave and licence/right ofway properties of HTML in relation totheEntertainment&Digital InnovationBusiness, shall, pursuant to Section232of theAct,withoutanyfurtheractordeed,betransferredtoandvestedin

orbe-deemedtohavebeentransferredtoorvestedintheResultingCompanyautomatically and on the same termsandconditions.

5.7 For the avoidance of doubt andwithout prejudice to the generality ofthe foregoing, it is expressly clarifiedthat upon the coming into effect ofthis Scheme, all permits, licenses,permissions, right of way, approvals,clearances, consents, benefits,registrations, entitlements, credits,certificates, awards, sanctions,allotments, quotas, no objectioncertificates, exemptions, concessions,issued to or granted to or executedin favourofHTML,and the rightsandbenefits under the same, in so far asthey relate to the Entertainment &Digital Innovation Business and allquality certifications and approvals,trademarks, trade names, servicemarks, copy rights, domain names,web-sites, designs, trade secrets,research and studies, technicalknowhow and other intellectualproperties (whether owned, licensedor otherwise, and whether registeredorunregistered)andallotherinterestsrelatingtothegoodsorservicesbeingdealt with by the Entertainment &Digital Innovation Business and thebenefit of all statutory and regulatorypermissions, environmental approvalsand consents, registration or otherlicenses, and consents acquired byHTML,inrelationtotheEntertainment& Digital Innovation Business shallbe transferred to and vested in theResultingCompanyandtheconcernedlicensors and granters of suchapprovals, clearances, permissions,etc., shall endorse, where necessary,andrecord,inaccordancewithlaw,theResultingCompanyonsuchapprovals,clearances, permissions so as toempower and facilitate the approvaland vesting of the Entertainment& Digital Innovation Business ofHTML in the Resulting Company andcontinuationofoperationspertainingtotheEntertainment&Digital InnovationBusiness of HTML in the ResultingCompany without hindrance andthat such approvals, clearances and

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permissions shall remain in full forceand effect in favour of or against theResulting Company, as the case maybe,andmaybeenforcedas fullyandeffectually as if, instead of HTML, theResulting Company had been a partyorbeneficiaryorobligeethereto.

5.8 In so far as various incentives,subsidies, exemptions, special status,indirect taxbenefitsorcredits, incometax holiday/benefit/losses and otherbenefits or exemptions or privilegesenjoyed, granted by any Governmentbody, regulatory authority, localauthority or by any other person, oravailed of by HTML are concerned,the same shall, without any furtheractordeed, insofarastheyrelatetotheEntertainment&Digital InnovationBusiness,vestwithandbeavailabletothe Resulting Company on the sameterms and conditions, as if the samehadbeenallottedand/orgrantedand/or sanctioned and/or allowed to theResultingCompany.

5.9 Any claims due to HTML from itscustomers or otherwise and whichhave not been received by HTML ason the date immediately precedingthe Effective Date as the case maybe, in relation toor inconnectionwiththeEntertainment&Digital InnovationBusiness,shallalsobelong toandbereceivedbytheResultingCompany.

5.10. All assets, estate, rights, title, interestand authorities acquired by HTMLafter the Appointed Date and prior totheEffectiveDate foroperationof theEntertainment & Digital InnovationBusinessshallalsostandtransferredtoandvested in theResultingCompanyupon the coming into effect of thisScheme.

5.11. Upon the coming into effect of thisScheme, all debts, duties, obligationsand liabilities (including contingentliabilities) of HTML relating to theEntertainment & Digital InnovationBusiness shall without any furtheract, instrument or deed be and standtransferred to the Resulting Companyand shall thereupon became thedebts,duties,obligationsandliabilities

of the Resulting Company, which itundertakes to meet, discharge andsatisfy to the exclusion of HTML andtokeepHTMLindemnifiedatall timesfromandagainstallsuchdebts,duties,obligations and liabilities (includingcontingent liabilities) and from andagainst all actions, demands andproceedingsinrespectthereto.Itshallnotbenecessarytoobtaintheconsentofanythirdpartyorotherperson,whoisapartytoanactorarrangementbyvirtueofwhichsuchdebts,obligations,duties and liabilities, have arisen inordertogiveeffecttotheprovisionsofthisclause.

5.12. In so far as loans and borrowingsof HTML are concerned, the loansand borrowings and such amountspertaining to the general andmultipurpose loans and borrowings,and liabilities, if any which are to betransferred to the Resulting Companyin terms of clause 5.11 above, beinga part of the Entertainment & DigitalInnovationBusiness,shall,withoutanyfurtheractordeed,becomeloansandborrowingsof theResultingCompany,and all rights, powers, duties andobligations in relation thereto shall beandstandtransferredtoandvestedinandshallbeexercisedbyoragainsttheResultingCompany,asifithadenteredinto such loans and incurred suchborrowings.However,withoutprejudicetosuchtransferofproportionateliabilityamount, if any, where considerednecessaryforthesakeofconvenienceand towards facilitating single pointcreditor discharge, the ResultingCompany may discharge such liability(including accretions) by makingpaymentsontherespectiveduedatesto HTML, which in turn shall makepaymentsto,therespectivecreditors.

5.13. Subjecttoclause5.12above,fromtheEffectiveDate,theResultingCompanyalone shall be liable to perform allobligationsinrespectoftheliabilitiesoftheEntertainment&Digital InnovationBusiness as the borrower/issuerthereof, and HTML shall not haveany obligations in respect of the saidliabilities.

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5.14. Where any of the liabilities andobligations of HTML as on theAppointed Date deemed to betransferred to theResultingCompany,have been discharged by HTML afterthe Appointed Date and prior to theEffectiveDate,suchdischargeshallbedeemedtohavebeenmadeforandonaccountoftheResultingCompanyandall liabilities and obligations incurredby HTML for the operations of theEntertainment & Digital InnovationBusiness after the Appointed DateandpriortotheEffectiveDateshallbedeemedtohavebeenincurredforandon behalf of the Resulting Companyand to the extent of their outstandingontheEffectiveDate,shallalsowithoutany further act or deed be and standtransferred to the Resulting Companyand shall become the liabilities andobligationsof theResultingCompany,whichshallmeet,dischargeandsatisfythesame.

5.15. Any claims, liabilities or demandsarisingonaccountoftheEntertainment&DigitalInnovationBusinessofHTMLwhichrelatestotheperiodpriortotheAppointedDatebutarisesatanytimeaftertheEffectiveDateshallbeentirelybornebytheResultingCompany.Intheevent that such liability is incurred byorsuchclaimordemandismadeuponHTML, then the Resulting CompanyshallindemnifyHTMLforanypaymentsmadeinrelationtothesame.

5.16. Subject to the other provisions ofthis Scheme, in so far as the assetsof the Entertainment & DigitalInnovation Business are concerned,the security, pledge, existing chargesand mortgages, over such assets, tothe extent they relate to any loans orborrowingsoftheRemainingBusinessofHTMLshall,withoutanyfurtheract,instrument or deed be released anddischargedfromthesameandshallnolongerbeavailableassecurity,pledge,charges and mortgages in relation tothoseliabilitiesofHTMLwhicharenottransferredtotheResultingCompany.

5.17. InsofarastheassetsoftheRemainingBusiness of HTML are concerned,the security, pledge, existing charges

and mortgages over such assets, tothe extent they relate to any loansor borrowings of the Entertainment& Digital Innovation Business shall,without any further act, instrument ordeedbereleasedanddischargedfromsuch security, pledge, charges andmortgages.Theabsenceofanyformalamendmentwhichmayberequiredbya bank and/or financial institution inorder to affect such release shall notaffecttheoperationofthisclause.

5.18. In so far as the existing security inrespectoftheloansandotherliabilitiesrelating to theRemainingBusinessofHTML are concerned, such securityshall,withoutanyfurtheract,instrumentordeedbecontinuedwithHTMLonly,ontheassetswhichareremainingwithHTML.

5.19. WithoutanyprejudicetotheprovisionsoftheforegoingclausesandupontheScheme being effective, HTML, andthe Resulting Company shall executeany instrument(s) and/or document(s)and/or do all the acts and deedsas may be required, including thefiling of necessary particulars and/or modification(s) of charge, with theRegistrarofCompanies,NCTofDelhiandHaryana,togiveformaleffecttotheprovisionsofthisclauseandforegoingclauses,ifrequired.

5.20. Upon the coming into effect of thisScheme,HTMLaloneshallbeliabletoperformallobligationsinrespectofalldebts,liabilities,dutiesandobligationspertaining to the Remaining Businessof HTML and the Resulting CompanyshallnothaveanyobligationsinrespectoftheRemainingBusinessofHTML.

5.21. Theforegoingprovisionsshalloperate,notwithstanding anything to thecontrary contained in any instrument,deedorwritingorthetermsofsanctionorissueoranysecuritydocuments,allofwhichinstruments,deedsorwritingsshallstandmodifiedand/orsupersededbytheforegoingprovisions.

5.22. On and from the Effective Date, andthereafter, the Resulting Companyshall be entitled to operate the bankaccountsofHTML, in relation toor in

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connection with the Entertainment &DigitalInnovationBusiness,andrealizeallmoniesandcompleteandenforceallpendingcontractsandtransactionsandtoacceptstockreturnsandissuecreditnotes, in relation to or in connectionwith the Entertainment & DigitalInnovationBusiness,inthenameoftheResulting Company in so far as maybenecessaryuntilthetransferofrightsand obligations of the Entertainment& Digital Innovation Business to theResultingCompanyunderthisSchemehave been formally given effect toundersuchcontractsandtransactions.From theAppointedDateandprior totheEffectiveDate,anymoneycollectedor realized by HTML in relation to orin connection with the Entertainment& Digital Innovation Business shallbe deemed to have been for and onaccountoftheResultingCompany.

5.23. As on the Appointed Date, certainportions of the working capitalfacilities of HTML are being utilizedfor the activities or operation of theEntertainment & Digital InnovationBusiness. It is being clarified thatpursuant to the Scheme becomingeffectiveandaspartofthetransferandvesting of the Entertainment & DigitalInnovationBusinesswiththeResultingCompanyandsubjecttotheapprovalofrelevant lenders, such working capitalfacilities, as may be identified by theBoardofDirectorsofHTML,shallstandtransferred to the Resulting Company.In the event such facilities are nottransferred as on the Effective Date,HTML and the Resulting Companymay, subject to applicable laws and ifrequired,enterintointer-companyloanarrangementtothatextentfromHTMLto theResultingCompany till the timetheResultingCompanyestablishesitsownlineofcredit.

5.24. For avoidance of doubt and withoutprejudice to the generality of theapplicable provisions of the Scheme,it is clarified that with effect from theEffective Date and till such time thatthe name of bank accounts of HTML,in relation toor inconnectionwith theEntertainment & Digital Innovation

Business, have been replaced withthat of the Resulting Company, theResultingCompanyshallbeentitledtooperate the bank accounts of HTML,in relation toor inconnectionwith theEntertainment & Digital InnovationBusiness, in thenameofHTML in sofar asmaybenecessary.All chequesand other negotiable instruments,paymentordersreceivedorpresentedfor encashment, which are in thename of HTML in relation to or inconnection with the Entertainment &Digital Innovation Business, after theEffective Date shall be accepted bythebankersoftheResultingCompanyand credited to the account of theResulting Company, if presented bytheResultingCompany.TheResultingCompanyshallbeallowedtomaintainbankaccountsinthenameofHTMLforsuchtimeasmaybedeterminedtobenecessary by the Resulting Companyfor presentation and deposition ofcheques and pay orders that havebeen issued in thenameofHTML, inrelation to or in connection with theEntertainment & Digital InnovationBusiness.Totheextentsuchcollectionismade in thenameofHTML it shallalsowithoutanyfurtheractordeedbeandstand transferred to theResultingCompany. It is hereby expresslyclarified thatany legalproceedingsbyor against HTML, in relation to or inconnection with the Entertainment &Digital InnovationBusiness, inrelationto the cheques and other negotiableinstruments, payment orders receivedorpresentedforencashment,whichareinthenameofHTMLshallbeinstituted,orasthecasemaybe,continuedbyoragainst the Resulting Company afterthecomingintoeffectofthisScheme.

5.25. It is clarified that in order to ensurethe smooth transition of business inrelation to or in connection with theEntertainment & Digital InnovationBusiness, the Resulting Companyshall have the right to use, market,sell,exhaustor to inanymannerdealwith any items or service pertainingto the Entertainment & DigitalInnovation Business without makinganymodificationswhatsoever to items

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or services and/or their branding. Allinvoices/payment related documentspertainingtosuchitemsshallberaisedinthenameoftheResultingCompanyaftertheEffectiveDate.

5.26. ItisherebyclarifiedthatallassetsandliabilitiesoftheEntertainment&DigitalInnovation Business, which are setforth in the closing balance sheet ofHTMLasontheAppointedDate,shallbe transferred at values appearing inthe books of account of HTML as ontheAppointedDate.

5.27. Upon this Scheme coming into effect,HTMLandtheResultingCompanymayenterintosharedservicesagreements,inter-alia, in relation to use by theResulting Company of office space,infrastructurefacilities,clubmembershipfacilities, information technologyservices, security personnel, legal,administrativeandother services, etc.ofHTMLonsuchtermsandconditionsthatmaybeagreedbetweenthepartiesandonpaymentofconsiderationonanarm’slengthbasis.

5.28. Notwithstanding anything containedherein, it is hereby clarified that noseparatecorporateapprovals,inter-alia,under the Act or any other applicablelaworregulationorcontract, shallberequiredtobetakenforundertakinganyoftheactions/transactionspertainingtotheEntertainment&Digital InnovationBusiness or the services providedby HTML under clause 5.27 abovefrom theAppointedDateanduntil theEffective Date and all such actions/transactionsshallbedeemed tobe incompliancewiththeActorotherlaws,regulations,contractsasapplicable,byvirtueofapprovaloftheScheme.

6. LEGAL PROCEEDINGS

6.1 Upon the coming into effect of thisScheme,alllegalorotherproceedings(including before any statutory orquasi-judicial authority or tribunal) byor against HTML, under any statute,whether pending on the AppointedDate, or which may be instituted anytimeinthefutureandineachrelatingtotheEntertainment&Digital InnovationBusiness shall be continued and

enforced by or against the ResultingCompany after the Effective Date. Inthe event that the legal proceedingsreferred to herein require HTML andthe Resulting Company to be jointlytreatedaspartiesthereto,theResultingCompanyshallbeaddedasapartytosuchproceedingsandshallprosecuteand defend such proceedings in co-operationwithHTML.Intheeventofanydifferenceordifficultyindeterminingasto whether any specific legal or otherproceedingsrelatetotheEntertainment&DigitalInnovationBusinessornot,adecision jointly taken by the Board ofDirectors of HTML and the ResultingCompany in this regard, shall beconclusiveevidenceofthematter.

6.2 IfproceedingsaretakenagainstHTMLinrespectofthemattersreferredtoinclause 6.1 above, it shall defend thesameinaccordancewiththeadviceoftheResultingCompanyandatthecostoftheResultingCompany,andthelattershall reimburse and indemnify HTMLagainstalltheliabilitiesandobligationsincurredbyHTMLinrespectthereof.

6.3 TheResultingCompanyshallhavealllegalorotherproceedings initiatedbyor against HTML with respect to theEntertainment & Digital InnovationBusiness, transferred into its nameand to have the same continued,prosecutedandenforcedbyoragainsttheResultingCompanytotheexclusionofHTML.

7. CONTRACTS, DEEDS, ETC.

7.1. Upon the coming into effect of thisSchemeandsubject to theprovisionsof this Scheme, all contracts, deeds,bonds, agreements, schemes,arrangements and other instrumentsofwhatsoevernature inrelationtotheEntertainment & Digital InnovationBusinesstowhichHTMLisapartyorto the benefit of which HTML may beeligible, and which are subsisting orhave effect immediately before theEffectiveDate,shallbeinfullforceandeffectbyoragainstor in favourof theResulting Company, as the case maybe,andmaybeenforcedas fullyandeffectually as if, instead of HTML, the

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Resulting Company had been a partyorbeneficiaryorobligeethereto.

7.2. Notwithstanding the fact that vestingof the Entertainment & DigitalInnovation Business occurs by virtueof this Scheme itself, the ResultingCompany may, at any time after thecoming into effect of this Scheme, inaccordancewiththeprovisionshereof,if so required, take such actions andexecute such deeds (including deedsof adherence), confirmations or otherwritingswithanypartytoacontractorarrangementtowhichHTMLisapartyinordertogiveformaleffecttotheaboveprovisions. The Resulting Companywill,ifnecessary,alsobeapartytotheabove. The Resulting Company shall,undertheprovisionsofthisScheme,bedeemedtobeauthorizedtoexecuteanysuchwritingsandcarryoutorperform,all such formalities or compliancesreferredtoaboveonbehalfofHTML.

7.3. Withoutprejudicetotheaforesaid,itisclarifiedthatifanyassets(estate,claims,rights, title, interests in or authoritiesrelatingtosuchassets)oranycontract,deeds, bonds, agreements, schemes,arrangements or other instruments ofwhatsoever nature in relation to theEntertainment & Digital InnovationBusiness which HTML owns or towhich HTML is a party to, cannot betransferred to the Resulting Companyfor any reason whatsoever, HTMLshall hold such asset or contract,deeds, bonds, agreements, schemes,arrangements or other instrumentsof whatsoever nature, in trust for thebenefitoftheResultingCompany,insofarasitispermissiblesotodo,tillsuchtimeasthetransferiseffected.

8. SAVING OF CONCLUDED TRANSACTIONS

8.1 The transfer and the vesting of theassets, liabilities and obligations oftheEntertainment&Digital InnovationBusiness under clause 5 hereof andthe continuance of proceedings by oragainst theResultingCompanyunderclause 6 hereof shall not affect anytransaction or proceedings alreadycompleted by HTML on or after theAppointedDate, to theendand intent

that the Resulting Company adopts,acceptsallacts,deedsandthingsdoneand executed by and/or on behalf ofHTML in relation to Entertainment &Digital Innovation Business as acts,deeds and things made, done andexecuted by and on behalf of theResultingCompany.

9. STAFF, EMPLOYEES & WORKMEN

9.1. Upon the coming into effect of thisScheme,all theemployees relating totheEntertainment&Digital InnovationBusiness that were employed byHTML,immediatelybeforetheEffectiveDate, shall become the employees ofthe Resulting Company without anybreak or interruption of service andwiththebenefitofcontinuityofserviceontermsandconditionswhicharenotless favourable than the terms andconditions as were applicable to suchemployeesrelatingtotheEntertainment&DigitalInnovationBusinessofHTMLimmediately prior to the demerger oftheEntertainment&Digital InnovationBusiness.

9.2. The Resulting Company agrees thatthelengthofserviceoftheemployeespertaining to the Entertainment &DigitalInnovationBusinesswithHTMLuptotheEffectiveDateshallbetakeninto account for the purpose of allretirement benefits to which they maybeeligibleinHTMLuptotheEffectiveDate. The Resulting Company furtheragreesthatforthepurposeofpaymentof any retrenchment compensation,gratuityorotherterminalbenefits,suchpastservicewithHTML,shallalsobetaken into account and agrees andundertakes to pay the same as andwhenpayable.

9.3. Upon the coming into effect of thisScheme,theResultingCompanyshallmake all the necessary contributionsfor such transferred employeesrelating to theEntertainment&DigitalInnovation Business, and depositthe same in provident fund, gratuityfund or superannuation fund or anyother special fund or staff welfarescheme or any other special scheme.The Resulting Company will also file

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relevant intimations in respect of theEntertainment & Digital InnovationBusiness to the statutory authoritiesconcernedwhoshalltakethesameonrecordandsubstitute thenameof theResultingCompanyforHTML.

9.4. Insofarastheexistingprovidentfund,gratuity fund and pension and /orsuperannuation fund/trusts, retirementfunds or employees state insuranceschemes or pension scheme oremployee deposit linked insurancescheme or any other benefits, if any,created by HTML for employees oftheEntertainment&Digital InnovationBusiness are concerned, suchproportion of the funds, contributionsto the funds or the scheme or theinvestments made into the fundsrelatabletotheemployeespertainingtotheEntertainment&Digital InnovationBusiness as on the Effective Date,who are being transferred along withtheEntertainment&Digital InnovationBusiness in terms of the Scheme,upon the coming into effect of thisScheme, shall be transferred to thenecessary funds, schemes or trustsof the Resulting Company and till thetime such necessary funds, schemesor trusts are created by the ResultingCompany,allcontributionshallcontinueto be made to the existing funds,schemesortrustsofHTML.

9.5. InrespectofthestockoptionsgrantedbyHTMLunder theESOPPlans, it ishereby clarified that upon the comingintoeffectof thisScheme, theoptionsasoftheEffectiveDatewouldcontinueon the existing terms and conditionsexcept for such modifications /adjustments as may be deemedappropriate by the Board of HTML inviewofthisSchemeandinaccordancewith the applicable laws. Any suchmodifications/ adjustments shall notrequire any further approval of theshareholders of HTML and/or holdersofoptionsinthesaidbehalf.

10. CONDUCT OF BUSINESS

10.1. With effect from the Appointed Dateand up to and including the EffectiveDate:

a) HTML undertakes to carry onandshallbedeemedtocarryonallbusinessesandactivitiesandstandpossessedofthepropertiesandassetsof theEntertainment&DigitalInnovationBusiness,forandonaccountofandintrustfortheResultingCompany.

b) AllprofitsaccruingtoHTMLandalltaxesthereonorlossesarisingor incurred by it with respectto the Entertainment & DigitalInnovation Business shall, forall purposes, be treated as anddeemed to be the profits, taxesorlosses,asthecasemaybe,oftheResultingCompany.

c) All accretions and depletions inrelation to the Entertainment &DigitalInnovationBusinessshallbe for and on account of theResultingCompany.

10.2. WitheffectfromthedateofapprovaltotheSchemebytheBoardofDirectorsofHTMLandtheResultingCompany,andupto and including the Effective Date,HTML shall carry on the business oftheEntertainment&Digital InnovationBusinesswithreasonablediligenceandbusiness prudence and in the samemanneras ithadbeendoinghitherto.Notwithstanding anything containedherein, it is hereby clarified that noseparatecorporateapprovals,inter-alia,under the Act or any other applicablelaworregulationorcontract, shallberequiredtobetakenforundertakinganyoftheactions/transactionspertainingtotheEntertainment&Digital InnovationBusinessorservicesprovidedbyHTMLunderClause5.27fromtheAppointedDate and until the Effective Date andall such actions/transactions shall bedeemed to be in compliance with theActorotherlaws,regulations,contractsasapplicable,by virtueofapprovaloftheScheme.

10.3. Fromthedateoffilingof thisSchemewith the Tribunal and upto andincluding the Effective Date, HTMLand the Resulting Company shall ,unless expressly prohibited underthisScheme,carryontheirrespective

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business in ordinary course and shallalsobe interaliapermitted tomakeapayment or distribution of dividend inany manner, alter its share capital inanymannerincludinganysub-divisionofshares,changeintheconstitutionaldocuments including the objects orname of the company, any issue ofshares or other securities, acquisitionand/orrestructuringwiththeapprovalof their respective Board any otheractivityorbusinessasmaybedeemednecessaryor expedient in theopinionoftheBoard.

10.4. The Resulting Company shall alsobe entitled, pending the sanction ofthe Scheme, to apply to the CentralGovernment, State Government,and all other agencies, departmentsand statutory authorities concerned,wherevernecessary,forsuchconsents,approvals and sanctions which theResulting Company may requireincluding the registration, approvals,exemptions, reliefs, etc., as may berequired/grantedunderanylawfortimebeinginforceforcarryingonbusinessof Entertainment & Digital InnovationBusiness.

11. TREATMENT OF TAX

11.1. The Resulting Company will be thesuccessor of HTML vis-à-vis theEntertainment & Digital InnovationBusiness.Hence,itwillbedeemedthatthebenefitsofanytaxcreditswhethercentral,state,orlocal,availedvis-a-vistheEntertainment&Digital InnovationBusiness and the obligations, if any,forpaymentof taxesonanyassetsoftheEntertainment&Digital InnovationBusiness or their erection and/orinstallation, etc. shall be deemed tohave been availed by the ResultingCompany, or as the case may bedeemed to be the obligation of theResultingCompany.

11.2. WitheffectfromtheAppointedDateandupon the Scheme becoming effective,all taxes, duties, cess, receivables/payables by HTML relating to theEntertainment & Digital InnovationBusiness including all or any refunds/credits/claims/taxlosses/unabsorbed

depreciation relating thereto shall betreatedastheassets/liabilityorrefund/credit/ claims/ tax losses/ unabsorbeddepreciation, as the case may be, oftheResultingCompany.

11.3. HTML and the Resulting Companyareexpresslypermitted to revise theirtax returns including tax deducted atsource(‘TDS’)certificates/returnsandto claim refund, advance tax, credits,excise and service tax credits, set offetc. on the basis of the accounts oftheEntertainment&Digital InnovationBusinessasvestedwith theResultingCompany upon coming into effect ofthis Scheme. Such returns may berevised and filed notwithstanding thatthe statutory period for such revisionandfilingmayhaveexpired.

11.4. Anyrefund,undertheIncometaxAct,1961, Goods & Service Tax, ServiceTax laws, Excise Duty laws, CentralSales Tax, applicable State ValueAdded Tax laws or other applicablelaws/ regulations dealing with taxes/duties/ levies due to Entertainment &Digital Innovation Business of HTMLconsequent to the assessment madeon HTML and for which no credit istaken in the accounts as on the dateimmediately preceding the AppointedDate shall also belong to and bereceived by the Resulting CompanyuponthisSchemebecomingeffective.

11.5. The tax payments (including, withoutlimitationincometax,Goods&ServiceTax,ServiceTax,ExciseDuty,CentralSales Tax, applicable State ValueAdded Tax, etc.) whether by way oftax deducted at source, advance tax,all earnest monies, security depositsprovisional payments, payment underprotest, or otherwise howsoever, byHTMLwithrespecttotheEntertainment&DigitalInnovationBusinessaftertheAppointedDate,shallbedeemedtobepaid by the Resulting Company andshall, inallproceedings,bedealtwithaccordingly.

11.6. Further, any tax deducted at sourceby HTML / the Resulting Companyor any other party with respect toEntertainment & Digital Innovation

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Business on transactions with HTML/the Resulting Company, if any (fromAppointedDatetoEffectiveDate)shallbedeemedtobeadvancetaxpaidbytheResultingCompanyandshall,inallproceedings,bedealtwithaccordingly.

11.7. ObligationfordeductionoftaxatsourceonanypaymentmadebyortobemadebyHTMLshallbemadeordeemedtohave been made and duly compliedwithbytheResultingCompany.

11.8. Upon theSchemebecomingeffective,all unavailed credits and exemptions,benefit of carried forward losses andother statutory benefits, including inrespect of income tax, Goods andService Tax, Cenvat, Customs, VAT,SalesTax,ServiceTaxetc. relating totheEntertainment&Digital InnovationBusiness towhichHTML isentitled toshall be available to and vest in theResultingCompany,withoutanyfurtheractordeed.

11.9. TheBoardofDirectorsofHTMLshallbeempoweredtodetermineifanyspecifictax liability or any tax proceedingrelates to the Entertainment & DigitalInnovation Business and whetherthe same would be transferred to theResultingCompany.

12. CONSIDERATION

12.1. Upon the coming into effect of thisScheme and in consideration of thetransferandvestingoftheEntertainment&DigitalInnovationBusinessofHTMLintheResultingCompany,theResultingCompanyshall,withoutanyfurtheractor deed, issue and allot to the equityshareholders of HTML, whose namesappear in theRegisterofMembersofHTML,onadate (hereinafter referredtoas“RecordDate”)tobefixedinthatbehalf by the Board of Directors ofHTMLinconsultationwiththeResultingCompanyforthepurposeofreckoningthe names of the equity shareholdersof HTML in the following proportionnamely,:

“forevery4(four)equityshareoffacevalueofRs.2/-(Rupeestwoonly)eachheld in HTML as on the record date,theequityshareholdersofHTMLshall

beissued1(one)equityshareoffacevalue Rs. 2/- (Rupees two only) eachcreditedasfullypaid-upintheResultingCompany.”

In issueandallotmentofsuchsharesoftheResultingCompanytotheequityshareholders of HTML, as aforesaid,thefractionalentitlementsshallnotbetaken into account, but such sharesrepresenting fractional entitlementsshall be consolidated and thereupon,the Resulting Company will issueand allot shares in lieu thereof to aDirectororCompanySecretaryorKeyManagerialPersonneloftheResultingCompanyorsuchotherpersonastheBoard of Directors of the ResultingCompany shall appoint in this behalfupon trust, who will sell them on thedateoflistingoftheResultingCompanyor within such period of listing of theResultingCompanyasmaybedecidedby the Board of Directors of theResultingCompany,anddistributetheirsale proceeds (less expenses, if any)totheshareholdersofHTML,whoareentitledtosuchfractionalsharesoftheResultingCompany.

12.2. The new equity shares issued,pursuanttoclause12.1above,shallbeissuedandallottedinadematerializedform to those equity shareholderswho hold equity shares in HTML indematerialized form, into the accountwiththedepositoryparticipantinwhichthe equity shares of HTML are heldon the Record Date. All those equityshareholdersofHTMLwhoholdequitysharesofHTML inphysical formshallalsohavetheoptiontoreceivethenewequity shares, in dematerialized form,provided the details of their accountwith the depository participant areintimated in writing to the ResultingCompany before the Record Date. Intheevent that theResultingCompanyhas received notice from any equityshareholderofHTMLthatequitysharesaretobeissuedinphysicalformorifanyequityshareholderhasnotprovidedtherequisite details relating to his/her/itsaccountwithadepositoryparticipantorotherconfirmationsasmayberequiredorifthedetailsfurnishedbyanyequity

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shareholder do not permit electroniccredit of the shares of the ResultingCompany,thentheResultingCompanyshall issue new equity shares of theResulting Company in accordancewith clause 12.1 above, as the casemaybe,inphysicalformtosuchequityshareholder.

12.3. The new equity shares of theResulting Company to be issued totheshareholdersofHTML in termsofclause12.1above,shallbesubject totheprovisionsoftheMemorandumandArticlesofAssociationoftheResultingCompanyandshallrankpari-passu,inallrespectswiththethenexistingequitysharestheResultingCompany,ifanyinallrespectsincludingdividends.

12.4. Where the new equity shares of theResultingCompanyare tobeallotted,pursuant to clause 12.1 above, toheirs, executors or administrators or,as the case may be, to successorsof deceased equity shareholders ofHTML,theconcernedheirs,executors,administrators or successors shall beobliged to produce evidence of titlesatisfactorytotheBoardofDirectorsoftheResultingCompany.

12.5. The new equity shares to be issuedby the Resulting Company, pursuantto clause 12.1 above, in respect ofanyequitysharesofHTML,whichareheld inabeyanceundertheprovisionsofSection126oftheActorotherwiseshall,pendingallotmentorsettlementofdisputebyorderofcourtorotherwise,be held in abeyance by the ResultingCompany.

12.6. The approval of this Scheme by theshareholdersoftheResultingCompanyshallbedeemedtobeduecomplianceof the provisions of section 62 of theAct and other applicable provisionsof theAct, for the issueandallotmentofnewequitysharesby theResultingCompanytotheshareholdersofHTML,asprovidedinthisScheme.

12.7. Intheeventoftherebeinganypendingshare transfers, whether lodged oroutstanding, of any shareholders ofHTML,theBoardofDirectorsofHTMLshall be empowered in appropriate

cases, prior to or even subsequent totheRecordDate, toeffectuatesuchatransferinHTMLasifsuchchangesintheregisteredholderwereoperativeasontheRecordDateandtoremoveanydifficultiesarisingthereto.

12.8. The Resulting Company shall, if andtotheextentrequiredto,applyforand/orintimateand/orobtainanyapprovalsfrom the concerned regulatoryauthorities for issue and allotmentof shares pursuant to the Schemeincluding the provisions of ForeignExchange Management Act, 1999,if any, for issue and allotment of newequitysharestothenon-residentequityshareholdersofHTML,ifany.

12.9. ThenewequitysharestobeissuedbytheResulting Company, in terms of clause12.1above,willbelistedand/oradmittedto tradingon theBSEandNSE,wherethe equity shares of HTML are listedand/oradmittedtotradingintermsoftheprovisions of Securities and ExchangeBoard of India (Issue of Capital andDisclosure Requirements) Regulations,2009 and other applicable regulations.The Resulting Company shall enterinto such arrangements and give suchconfirmations and/or undertakings asmay be necessary in accordance withthe applicable laws or regulations forcomplying with the formalities of theaforesaid stock exchanges. On suchformalitiesbeingfulfilled, thesaidstockexchangesshall listand /oradmitsuchnewequitysharesalso for thepurposeoftrading.Thenewequitysharesallottedby theResultingCompany,pursuant toclause 12.1 above, shall remain frozeninthedepositoriessystemtillthelisting/tradingpermission isgivenby theBSEandNSE.Betweenthedateofallotmentof the equity shares of the ResultingCompany to theshareholdersofHTMLandthedateoflistingoftheequitysharesoftheResultingCompanywiththestockexchanges, except as provided for inClause14.1ofthisSchemeinrelationtothereductionoftheexistingsharecapitaloftheResultingCompany,thereshallbenochangeintheshareholdingpatternorcontroloftheResultingCompany.

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13. ACCOUNTING TREATMENT

Accounting treatment in the books of HTML

On effectiveness of the Scheme and witheffect from theAppointedDate,HTMLshallaccount for Demerger of the Entertainment& Digital Innovation Business in its booksof account in accordance with the IndianAccounting Standard (IND AS) prescribedunder Section 133 of the Companies Act,2013, as notified under the Companies(Indian Accounting Standard) Rules, 2015andgenerallyacceptedaccountedprinciples,as may be amended from time to time, asunder:

13.1. All theassetsand the liabilitiesof theEntertainment & Digital Innovationbusiness being transferred shall bereduced at their Book Value as onthe Appointed date. (other than inter-company loan, if any, referred to inClause5.23oftheScheme)

13.2. ThedifferencebetweenthebookvalueofassetsandbookvalueofliabilitiesoftheEntertainment&Digital Innovationbusiness as on the Appointed dateshall be adjusted against the CapitalReserve,totheextentrequired.

13.3. Ifconsideredappropriateforcompliancewith Accounting Standards, HTMLmay make suitable adjustment to theaccounting treatment and adjust theeffectthereofinthemannerdeterminedbytheBoardofDirectorsofHTML.

13.4. Upon the Scheme being effective,the existing equity shareholding ofHTMLintheResultingCompanyshallstand cancelled. Upon cancellation,HTML shall credit to its investmentin the Resulting Company, the valueof investment held by HTML in theResulting Company, which standscancelled and the same shall bedebitedtotheProfit&LossAccountofHTML.

Accounting treatment in the books of the Resulting Company

On effectiveness of the Scheme and witheffect from the Appointed Date, since thetransaction involves entities which areultimatelycontrolledbythesamepartybeforeand after the transaction, the Resulting

Companyshallaccount forDemergerof theEntertainment&Digital InnovationBusinessin its books of account in accordancewith Appendix C ‘Business combinationsof entities under common control’ of theIndian Accounting Standard (Ind AS) 103for Business Combination prescribed underSection 133 of the Companies Act, 2013,as notified under the Companies (IndianAccounting Standard) Rules, 2015 andgenerally acceptedaccountedprinciples, asmaybeamendedfromtimetotime,asunder:

13.5. The Resulting Company shall,record theassetsand liabilitiesof theEntertainment & Digital Innovationbusiness vested in it pursuant to thisScheme at the respective carryingamounts appearing in the books ofHTML.

13.6. The Resulting Company shall creditits share capital account with theaggregate face value of the newequitysharesissuedbyittotheequityshareholders of HTML pursuant toClause12.1ofthisScheme.

13.7. The difference between the carryingamountof theassetsand liabilitiesasrecordedunderClause13.5aboveandthesharecapitalaccountcreditedwithaggregatefacevalueofthenewequitysharesasrecordedunderClause13.6above, shall be recorded as CapitalReserve.

13.8. If considered appropriate for thepurpose of application of uniformaccounting policies and method orfor compliance with the applicableAccounting Standards, the ResultingCompany may make suitableadjustmentandadjusttheeffectthereofinthemannerdeterminedbytheBoardofDirectorsoftheResultingCompany.

13.9. Upon the Scheme being effective,the existing shareholding of HTML inthe Resulting Company shall standcancelled. Upon cancellation, theResulting Company shall debit to itsEquity Share Capital Account, theaggregatefacevalueofexistingequitysharesheldbyHTMLin theResultingCompany,whichstandscancelledandthesameshallbecreditedtotheCapitalReservesoftheResultingCompany.

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14. REDUCTION OF SHARE CAPITAL OF THE RESULTING COMPANY AND REDUCTION OF CAPITAL RESERVE IN HTML

14.1. Reduction of share capital of the Resulting Company

a) Simultaneously, with the issue andallotmentof thenewequity sharesbythe Resulting Company to the equityshareholders of HTML in accordancewith clause 12.1 of the Scheme, inthe books of the Resulting Company,any equity shares held by HTML inthe Resulting Company shall standcancelled, extinguished and annulledonandfromtheEffectiveDate.

b) The cancellation, as mentioned underclause 14.1(a) above, which amountsto reduction of share capital of theResulting Company, shall be effectedasanintegralpartofthisSchemeitselfin accordance with the provisions ofsection66of theActand theorderofthe Tribunal sanctioning the Schemeshall be deemed to be also the orderunder Section 66 of the Act for thepurpose of confirming the reduction.Thereductionwouldnot involveeithera diminution of liability in respect ofunpaid share capital or payment ofpaid-upsharecapital.

c) Notwithstanding the reduction asmentioned above, the ResultingCompanyshallnotberequiredtoadd“andreduced”assuffixtoitsnameandtheResultingCompanyshall continueinitsexistingname.

14.2 Reduction of capital reserve of HTML

a) The reduction under clause 13.2 intheCapitalReserveaccountofHTMLshall be effected as an integral partof theSchemeinaccordancewiththeprovisions of Sections 66 of the Actand the order of the Tribunal, as thecasemaybe,asapplicablesanctioningthe Scheme shall be deemed to bealsotheorderunderSection66oftheAct for the purpose of confirming thereduction.TheapprovalgrantedbytheshareholdersofHTML to theSchemeshallbedeemedtobetheapprovalforthe purpose of Section 66 and otherrelevant provisions of the Act. HTML

and the Resulting Company shall notbe obliged or required to call for aseparate meeting of its shareholders/creditors for obtaining their approvalforsanctioningthereduction incapitalreserves. The reduction does notinvolve either a diminution of liabilityin respect of unpaid share capital orpaymentofpaidupsharecapitalundertheprovisionsofSection66oftheAct.

b) Notwithstanding the reduction asmentioned above, HTML shall not berequiredtoadd“andreduced”assuffixtoitsnameandHTMLshallcontinueinitsexistingname.

15. REMAINING BUSINESS TO CONTINUE WITH HTML

15.1. The Remaining Business, and allthe assets, liabilities and obligationspertaining thereto, shall continue tobelong to, and be vested in and bemanaged by HTML, subject to theprovisions of the Scheme as may beapplicable.

15.2. All legal or other proceedings by oragainst HTML under any statute,whether pending on the AppointedDate or which may be instituted infuture whether or not in respect ofanymatterarisingbeforetheEffectiveDate, and relating to the RemainingBusiness (including those relating toany property, right, power, liability,obligationordutiesofHTMLinrespectof the Remaining Business) shall becontinued and enforced by or againstHTML.The Resulting Company shall,in no event, be responsible or liablein relation to any such legal or otherproceedingsbyoragainstHTML.

15.3. With effect from the Appointed Dateand up to and including the EffectiveDate:

a. HTMLshallcarryonandshallbedeemedtohavebeencarryingonallbusinessandactivitiesrelatingto the Remaining Business forandonitsownbehalf;

b. allprofitsandincomeaccruingorarising to HTML, and any cost,charges,lossesandexpenditurearisingorincurredbyit(including

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taxes, ifany,accruingorpaid inrelationtoanyprofitsorincome)relating to the RemainingBusinessshall, forallpurposes,betreatedasandbedeemedtobetheprofits, income, lossesorexpenditure,asthecasemaybe,ofHTML;and

c. all employees relatable to theRemaining Business shallcontinue to be employed byHTML, and the ResultingCompanyshall not in anyeventbe liable or responsible for anyclaims whatsoever regardingsuchemployees.

PART C

GENERAL TERMS & CONDITIONS

16. APPLICATION TO TRIBUNAL

The companies shall, with all reasonabledispatch, make necessary applications/petitions under Sections 230 to 232 of theAct and other applicable provisions of theActtotheTribunalforseekingsanctionofthisScheme.

17. MODIFICATION(S) OR AMENDMENT(S) TO THE SCHEME

17.1. HTMLandtheResultingCompany,bytheir respective Boards of Directors,may assent to/make and/or consentto any modifications/amendmentsto the Scheme, or to any conditionsor limitations that the Tribunal and/or anyother authority (includingSEBIand stock exchanges) under law maydeemfit todirector impose,orwhichmayotherwisebeconsideredbythemnecessary, desirable or appropriateas a result of subsequent events orotherwisebythem.

17.2. HTML and the Resulting Company, bytheirrespectiveBoard,areauthorizedtotakeallsuchstepsasmaybenecessary,desirableorpropertoresolveanydoubts,difficulties or questions whatsoever forcarryingtheSchemeintoeffect,whetherbyreasonofanydirectiveororderofanyotherauthoritiesorotherwisehowsoever,arisingoutoforunderorbyvirtueoftheSchemeand/oranymatterconcernedorconnectedtherewith.

18. CONDITIONALITY OF THE SCHEME

ThisSchemeis,andshallbeconditionaluponandsubjectto:

18.1. The requisite consent, approval orpermission from BSE, NSE and/or SEBI under Regulation 37 of theSecurities and Exchange Boardof India (Listing Obligations andDisclosureRequirements)Regulations,2015, which by law or otherwise maybe necessary for the implementationofthisSchemeincompliancewiththeprovisionsofSEBICircular;

18.2. The approval of the Scheme by therespective requisite majorities innumberandvalueoftheshareholdersand/or creditors (where applicable)of the Companies in accordance withSection230to232readwithsection66oftheAct;

18.3. The Scheme being sanctioned by theTribunalintermsofSections230to232readwithsection66andotherrelevantprovisionsof theActandtherequisiteordersoftheTribunal;

18.4. Certified copies of the orders of theTribunalsanctioningthisSchemebeingfiled with the relevant Registrar ofCompaniesbyHTMLandtheResultingCompanyasper theprovisionsof theAct,and

18.5. IfanypartofthisSchemeisfoundtobeunworkableorunviableforanyreasonwhatsoever,thesameshallnot,subjecttothedecisionoftheBoardofDirectorsof theCompaniesaffect thevalidityorimplementationoftheotherpartsand/orprovisionsofthisScheme.

18.6. This Scheme, although to come intooperation from the Appointed Date,shallnotbecomeeffectiveuntilthelaterofthefollowingdates,namely:

a. That on which the last ofthe aforesaid approvals andsanctions as mentioned inClause18.1,18.2&18.3shallbeobtainedorpassed;or

b. That on which all necessaryauthenticated/ certified copiesof the Tribunal Order(s) beingfiled with the relevant Registrar

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ofCompaniesby theDemergedCompany and the ResultingCompanyrespectively.

Thelastofsuchdatesshallbethe‘EffectiveDate”forthepurposeofthisScheme.

19. EFFECT OF NON-RECEIPT OF APPROVALS

19.1. Intheeventofanyofthesaidsanctionsand approvals referred to in Clause18.1, 18.2, 18.3 and 18.4 not beingobtained and/ or complied withand/or satisfied, this Scheme shallautomaticallystandrevoked,cancelledandbeofnoeffect,saveandexceptinrespectofanyactordeeddonepriortheretoas iscontemplatedhereunder,or as to any rights and/ or liabilitieswhich might have arisen or accruedpursuant thereto, and which shall begovernedandbepreservedorworkedout as is specifically provided in theScheme or as may otherwise arise inlaw.

19.2. In the event of revocation of theScheme under Clause 19.1, no rightsand liabilities whatsoever shall accruetoorbeincurredintersetoHTML&theResultingCompanyortheirrespectiveshareholdersorcreditorsoremployeesoranyotherperson,saveandexceptinrespectofanyactordeeddonepriorthereto as is contemplated hereunderorastoanyright,liabilityorobligationwhichhasarisenoraccruedpursuantthereto and which shall be governedandbepreservedorworkedoutas isspecificallyprovided intheSchemeorinaccordancewiththeapplicablelawsandinsuchcase,eachcompanyshallbear its own costs unless otherwisemutuallyagreed.

19.3. The Board of Directors of HTML andtheResultingCompanyshallbeentitledto withdraw this Scheme prior to theEffectiveDate.

20. CHANGE OF NAME, INCREASE IN AUTHORIZED SHARE CAPITAL OF THE RESULTING COMPANY AND CONSEQUENT ALTERATION OF ITS MEMORANDUM OF ASSOCIATION

20.1. AsanintegralpartoftheSchemeandatany timeprior to theEffectivedate,

the name of the Resulting Companymaybechangedtosuchothernameasmaybeapprovedby theBoardof theResulting Company and the RegistrarofCompanies,subjecttotheResultingCompany filing necessary forms andapplications with the Registrar ofCompaniesinthesaidbehalf.Approvalof the shareholders of the ResultingCompany and HTML to the Schemeshall be considered as the approvalrequiredundertheprovisionsofActforsuchchangeofname.

20.2. In order to give effect to this Scheme,the authorized share capital of theResulting Company shall be increasedfromRs1,00,000(RupeesOneLakh)toRs.12,00,00,000(RupeesTwelveCrores).

By virtue of Clause 20.2 read withClause 3.2, , Clause (V) of thememorandum of association of theResulting Company shall, withoutany further act or deed, be amendedaccordinglytoreadasunder:

“V. The Authorized Share Capital of the Company is Rs 12,00,00,000 (Rupees Twelve Crore only) divided into 6,00,00,000 (Six Crore) Equity Shares of Rs. 2/- (Rupees Two only) each.”

20.3. It is clarified that for the purposesof this Clause 20, the consent ofthe shareholders of the ResultingCompany to this Scheme, shall besufficient for thepurposesofeffectingthe above changes, and shall bedeemed to includeconsentunderanyotherapplicableprovisionsof theAct,andnofurtherresolution(s)underanyprovisionsoftheAct,includingSection13 and Section 61 thereof, would beseparately required. The ResultingCompanyshalldischargetheapplicablefilingfeesandstampdutyinrelationtosuchchanges.

21. COSTS, CHARGES AND EXPENSES

21.1. All costs, charges, taxes includingduties, levies and all other expenses,if any (save as expressly otherwiseagreed) of HTML and the ResultingCompany arising out of or incurred inconnectionwithimplementationofthisSchemeandmattersincidentalthereto,shallbebornebyHTML.

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Annexure-2

54

Annexure-3

60

Annexure-4

62

Annexure-5

64

Annexure-6

66

REPORT ADOPTED BY THE BOARD OF DIRECTORS OF HT MEDIA LIMITED ON AUGUST 25, 2017, EXPLAINING THE EFFECT OF THE SCHEME OF ARRANGEMENT ON THE EQUITY SHAREHOLDERS (INCLUDING PROMOTER & NON-PROMOTER) & KEY MANAGERIAL PERSONNEL OF THE COMPANY

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The Board of Directors of HT Media Limited (“HTML” or “theCompany”) at its meeting held on August 25, 2017 hasconsidered and approved the draft Scheme of Arrangementbetween HT Media Limited and HT Digital Ventures Limited(“HTDVL” or “the Resulting Company”), and their respectiveShareholders and Creditors under Sections 230 to 232 readwithSection66oftheCompaniesAct,2013(“Scheme”),which,inter-alia,providesfordemergerofthe‘Entertainment&DigitalInnovationBusiness’oftheCompanyandtransferandvestingthereofintotheResultingCompany.

Provisions of Section 232(2)(c) of the Companies Act, 2013,require the Board of Directors to adopt a report explainingthe effect of compromise or arrangement on each class ofshareholders, keymanagerial personnel, promotersandnon-promoter shareholders, laying out in particular, the shareentitlementratioandspecifyingspecialvaluationdifficulties, ifany,and thesame is required tobecirculatedaspartof thenoticeofthemeeting(s)tobeheldforthepurposeofapprovingtheScheme.

This report of the Board of Directors is accordingly beingmadepursuanttotherequirementsofSection232(2)(c)oftheCompaniesAct,2013.

While deliberating on the Scheme, the Board, inter-alia,consideredandtookonrecordthefollowingDocuments:

• DraftSchemeofArrangement;

• ShareEntitlementRatioReportdatedAugust25,2017issued by Jain Jindal & Co., Chartered Accountants,inter-alia,describingthemethodologyadoptedbytheminarrivingattheshareentitlementratio;

• Fairness Opinion dated August 25, 2017 issued byFinshore Management Services Limited, a SEBIRegistered(Category-I)MerchantBanker;

• CertificatedatedAugust25,2017ofS.R.Batliboi&Co.LLP,(StatutoryAuditors)confirmingthattheaccountingtreatmentoutlinedintheSchemeisincompliancewiththeapplicableaccountingstandardsnotifiedundertheCompanies Act, 2013 and other generally acceptedaccountingprinciples;

• Reportof theAuditCommitteedatedAugust25,2017recommendingtheSchemetotheBoard;

• Undertaking from the Company with regard to thenon-applicability of the requirements prescribed inParagraph(I)(A)(9)oftheSEBICircularNo.CFD/DIL3/CIR/2017/21datedMarch10,2017totheScheme;and

• Certificate from theStatutoryAuditors,S.R.Batliboi&Co.LLP, certifying the undertaking from the Company withregardtothenon-applicabilityoftherequirementsprescribedin Paragraph (I)(A)(9) of the SEBI Circular No. CFD/DIL3/CIR/2017/21datedMarch10,2017totheScheme.

Aftertakingonrecordthedocuments/confirmationsreferredabove,theBoardofHTMLapprovedthedraftSchemeofArrangement.

The following is the Report taking into consideration theaforesaidprovisions:

1. Share Entitlement Ratio Share Entitlement Report dated August 25, 2017

obtainedfromJainJindal&Co.,CharteredAccountantsrecommendingthefollowingshareentitlementratio:

“for every 4 (four) equity share of face value of Rs.2/-(Rupees twoonly)eachheld inHTMLason therecorddate,theequityshareholdersofHTMLshallbeissued1(one)equityshareoffacevalueRs.2/-(Rupeestwoonly)eachcreditedasfullypaid-upintheResultingCompany.”

The Finshore Management Services Limited, a SEBIRegistered (Category-I) Merchant Banker, in itsFairnessOpiniondatedAugust25,2017haveprovidedanopinionthat theaforesaidshareentitlementratio isfairandreasonabletotheequityshareholdersofHTML.

NospecialvaluationdifficultieswerereportedbyJainJindal&Co.,CharteredAccountantsintheiraforesaidreport.

2. Effect of the Scheme on the Shareholders (including Promoters & Non-Promoter Shareholders) of HTML

• There is only one class of shareholders. i.e. equityshareholders, which includes the promoter as well asnon-promotershareholdersofHTML.

• On demerger, the Resulting Company will issueand allot its equity shares to each member of HTML,whosenameisrecordedintheregisterofmembersonthe Record Date, as per the above mentioned shareentitlementratio.

• Theequitysharestobe issuedandallottedasabove,shallbesubject to theprovisionsof theMemorandumandArticlesofAssociationof theResultingCompanyandshallrankpari-passu,inallrespectswiththethenexistingequitysharesoftheResultingCompany,ifany,includingdividends.

• Therewouldbenodilutionorincreaseintheshareholdingof HTML’s promoter or non-promoter shareholders inHTML.

• As per the Scheme, consequent upon demerger, theproposedshareholdersandtheirholdingproportionintheResultingCompany,asontheRecordDate,willbeidenticaltothatofHTML,andthus,theoveralleconomicinterestofequityshareholdersofHTMLshallremainthesame.

3. Effect of the Scheme on Key Managerial Personnel (“KMP”) of HTML

TheSchemewillhavenoeffectonKMPsofHTMLexcept totheextentoftheirrespectiveshareholdinginHTML,ifanyandeffectthereonasdetailedinpoint2above.

AdoptedatthemeetingoftheBoardofDirectorsoftheCompanyheldonAugust25,2017.

On behalf of the BoardForHT Media Limited

Sd/-(Dinesh Mittal)Whole-time Director, Group General Counsel & Company Secretary

Place:NewDelhiDate:August25,2017

Annexure-7

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REPORT ADOPTED BY THE BOARD OF DIRECTORS OF HT DIGITAL VENTURES LIMITED ON AUGUST 25, 2017, EXPLAINING THE EFFECT OF THE SCHEME OF ARRANGEMENT ON THE EQUITY SHAREHOLDERS (INCLUDING PROMOTER & NON-PROMOTER) & KEY MANAGERIAL PERSONNEL OF THE COMPANY

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The Board of Directors of HT Digital Ventures Limited atits meeting held on August 25, 2017 has considered andapproved the draft Scheme of Arrangement between HTMedia Limited (“HTML”) and HT Digital Ventures Limited(“HTDVL”or“theResultingCompany”),andtheirrespectiveShareholdersandCreditorsunderSections230to232readwith Section 66 of the Companies Act, 2013 (“Scheme”),which,inter-alia,providesfordemergerofthe‘Entertainment& Digital Innovation Business’ of HTML and transfer andvestingthereofintoHTDVL.

ProvisionsofSection232(2)(c)oftheCompaniesAct,2013,require theBoardofDirectors toadoptareportexplainingtheeffectofcompromiseorarrangementoneachclassofshareholders, key managerial personnel, promoters andnon-promotershareholders,layingoutinparticular,theshareentitlementratioandspecifyingspecialvaluationdifficulties,ifany,andthesameisrequiredtobecirculatedaspartofthenoticeof themeeting(s) to beheld for thepurposeofapprovingtheScheme.

This report of the Board of Directors is accordingly beingmadepursuanttotherequirementsofSection232(2)(c)oftheCompaniesAct,2013.

While deliberating on the Scheme, the Board, inter-alia,consideredandtookonrecordthefollowingDocuments:

• DraftSchemeofArrangement;

• Share Entitlement Ratio Report dated August25, 2017 issued by Jain Jindal & Co., CharteredAccountants, inter-alia, describing the methodologyadoptedbytheminarrivingattheshareentitlementratio;

• FairnessOpiniondatedAugust 25, 2017 issuedbyFinshore Management Services Limited, a SEBIRegistered(Category-I)MerchantBankertoHTML;

• CertificateofNetworthdatedAugust25,2017issuedbyMRKS&Associates,StatutoryAuditors;and

• Certificate dated August 25, 2017 of MRKS &Associates (Statutory Auditors), confirming that theaccounting treatment outlined in the Scheme is incompliancewiththeapplicableaccountingstandardsnotified under the Companies Act, 2013 and othergenerallyacceptedaccountingprinciples.

Aftertakingonrecordthedocuments/confirmationsreferredabove, theBoardofHTDVLapprovedthedraftSchemeofArrangement.

The following is the Report taking into consideration theaforesaidprovisions:

1. Share Entitlement Ratio

Share Entitlement Report dated August 25,2017 obtained from Jain Jindal & Co., Chartered

Accountants recommending the following shareentitlementratio:

“forevery4(four)equityshareoffacevalueofRs.2/-(Rupees two only) each held in HTML as on therecorddate, theequityshareholdersofHTMLshallbeissued1(one)equityshareoffacevalueRs.2/-(Rupees twoonly)eachcreditedas fullypaid-up intheResultingCompany.”

No special valuation difficulties were reported byJain Jindal & Co., Chartered Accountants in theiraforesaidreport.

2. Effect of the Scheme on the Shareholders (including Promoters & Non-Promoter Shareholders) and Key Managerial Personnel (“KMP”) of HTDVL

• There is only one class of shareholders. i.e. equityshareholders.

• TheentireequitysharecapitalofHTDVLisheldbyHTML (Promoter) and its nominees.The Companydoesnothaveanynon-promotershareholders.

• Upon the Scheme becoming effective, the existingequity shares of HTDVL, held by HTML along withitsnomineesshallstandcancelled,extinguishedandannulledasenshrinedinClause14oftheScheme.

• Ondemerger,HTDVLwill issueandallot its equityshares to each member of HTML, whose name isrecorded in the registerofmemberson theRecordDate,aspertheabovementionedshareentitlementratio.

• AspertheScheme,consequentupondemerger,theproposedshareholdersand theirholdingproportioninHTDVL,asontheRecordDate,willbeidenticaltothatofHTML,andthus,theoveralleconomicinterestof equity shareholders of HTML shall remain thesame.

• TheCompanydoesnothaveanyKMP.

Adopted at the meeting of the Board of Directors of theCompanyheldonAugust25,2017.

On behalf of the BoardForHT Digital Ventures Limited

Sd/-(Sharad Saxena)Director

Place:NewDelhiDate:August25,2017

Annexure-8

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Annexure-9

116

Annexure-10

128

AbridgedProspectus

DIGICONTENT LIMITED(Digicontent Limited was incorporated as HT Digital Ventures Limited on August 14, 2017 under the Companies Act, 2013

with the Registrar of Companies, NCT of Delhi & Haryana. The Corporate Identification Number of the Company is U74999DL2017PLC322147.

The name of the Company was changed from “HT Digital Ventures Limited” to “Digicontent Limited” w.e.f. October 24, 2017)

RegisteredOffice:HindustanTimesHouse,2ndFloor,18-20KasturbaGandhiMarg,NewDelhi-110001

Tel.:+911166561608,Fax:+911166561445E-mail:[email protected]

ContactPerson:ShriSharadSaxena,Director

Promoter of Digicontent Limited: HT Media Limited ** Upon the Scheme of Arrangement becoming effective, the promoters of Digicontent Limited shall be identified in

accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (the “SEBI ICDR Regulations”)

PleaseensurethatyoualsoreadtheSchemeofArrangementapprovedbytheBoardofDirectorsofHTMediaLimitedandDigicontentLimited,aswellastheAuditCommitteeofHTMediaLimitedvidetheirresolutionsdatedAugust25,2017.TheshareholdersareadvisedtoretainacopyoftheAbridgedProspectusfortheirfuturereference.

FOR PRIVATE CIRCULATION TO THE SHAREHOLDERS OF HT MEDIA LIMITED ONLY

ABRIDGED PROSPECTUS

In the nature of an Abridged Prospectus containing salient features of the Scheme of Arrangement betweenHT Media Limited (hereinafter referred to as “HTML” or the “Demerged Company”) and Digicontent Limited (formerlyHTDigitalVenturesLimited)(hereinafter referred toas“Digicontent”or the“ResultingCompany”or the“Company”)andtheirrespectiveshareholdersandcreditorsunderSections230to232readwithSection66oftheCompaniesAct,2013andtherulesmadethereunder(hereinafterreferredtoasthe“Scheme”).ThisAbridgedProspectusdisclosesapplicableinformationoftheunlistedentityi.e.DigicontentLimited,incompliancewithSEBIcircularno.CFD/DIL3/CIR/2017/21datedMarch10,2017(the“SEBICircular”)relatingtotheScheme.

This document is prepared to comply with the requirement of Regulation 37 of the Securities and Exchange Board ofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015readwiththeSEBICircular,andsetsoutthedisclosuresinanabridgedprospectusformatasprovidedinPartDofScheduleVIIIoftheSEBIICDRRegulations,totheextentapplicable.TheequitysharesofDemergedCompanyisalreadylistedonNationalStockExchangeofIndiaLimited(“NSE”)andBSELimited(“BSE”)(NSEandBSEarecollectivelyreferredtoasthe“StockExchanges”).PursuanttotheScheme,ResultingCompanywillissueandallottotheequityshareholdersofDemergedCompany,whosenamesappearintheRegisterofMembersofDemergedCompany,onadate(hereinafterreferredtoas“RecordDate”)tobefixedinthatbehalfbytheBoardofDirectorsoftheDemergedCompanyinconsultationwiththeResultingCompanyforthepurposeofreckoningthenamesoftheequityshareholdersofDemergedCompany,intheratioof1(one)equityshareoffacevalueRs.2/-(Rupeestwoonly)eachcreditedasfullypaid-upintheResultingCompanyforevery4(four)equityshareoffacevalueofRs.2/-(Rupeestwoonly)eachheldinDemergedCompanyasontherecorddate.TheequitysharessoissuedbyResultingCompanywillbelistedontheStockExchanges.TherequirementswithrespecttoGeneralInformationDocumentarenotapplicableandthisAbridgedProspectusshouldbereadaccordingly.

COMPANY’S ABSOLUTE RESPONSIBILITY

Resulting Company, having made all reasonable inquiries, accepts responsibility for and confirms that the AbridgedProspectuscontainsall informationwithregardtoResultingCompanyandtheScheme,which ismaterial in thecontextoftheScheme,thattheinformationcontainedintheAbridgedProspectusistrueandcorrectinallmaterialaspectsandisnotmisleadinginanymaterialrespect,thattheopinionsandintentionsexpressedhereinarehonestlyheldandthattherearenootherfacts,theomissionofwhichwillmaketheAbridgedProspectusasawhole,oranyofsuchinformationortheexpressionofanysuchopinionsorintentions,misleadinginanymaterialrespect.

MERCHANT BANKER

Sundae Capital Advisors Private Limited611,ShahpuriTirathSinghTower58,C-Block,CommunityCentreJanakPuri,NewDelhi-110058Tel:+911149149740,E-mail:[email protected]:[email protected]:www.sundaecapital.comContactPerson:RadhikaSomaniSEBIRegn.No.:INM000012494

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GENERAL INFORMATION

Digicontent Limitedwas incorporatedasHTDigitalVenturesLimitedonAugust 14, 2017under theCompaniesAct, 2013with the Registrar of Companies NCT of Delhi & Haryana. The Corporate Identification Number of the Company isU74999DL2017PLC322147.ThenameoftheCompanywaschangedfrom“HTDigitalVenturesLimited”to“DigicontentLimited”w.e.f.October24,2017

Registered Office of the CompanyHindustanTimesHouse,2ndFloor18-20,KasturbaGandhiMargNewDelhi-110001Tel.:+911166561608Fax:+911166561445E-mail:[email protected]:ShriSharadSaxena,Director

Registrar & Share Transfer AgentAsondatetheCompanyhasnotappointedanyRegistrar&ShareTransferAgent.

Statutory Auditor

MRKSandAssociatesCharteredAccountantsQU-35B,PitampuraNewDelhi-110088

PROMOTER OF DIGICONTENT LIMITED

HT Media Limited (“HTML”) is the Promoter of Digicontent. HTML was incorporated on December 3, 2002 as a publiclimited company under the Companies Act, 1956 as “HT Media Limited” with its registered office at HindustanTimesHouse, 18-20, Kasturba Gandhi Marg, New Delhi- 110 001, India. The Corporate Identification Number of HTML isL22121DL2002PLC117874.

HTMLisoneofIndia’sleadingmediacompanieswithprominenceacrossprint,radioanddigitalplatforms.HTMLisengagedinprintingandpublishingof‘HindustanTimes’,‘Hindustan’ (throughsubsidiary)and‘Mint’. ItoperatesFMradiostationsunderthebrands‘Fever’and‘RadioNasha’.TheEntertainment&DigitalInnovationbusinessesofthegroupincludesdigitalimagesrepository,digitalentertainment,andthestrategiccontentintegrationbusinessalongwiththemultimediacontentbusiness,definedunderClause1.6oftheSchemeofArrangementbetweenHTMLandDigicontent.

HTML has integrated its editorial operations for real-time reporting across multiple platforms, having established a‘DigitalNewsroom’,rolledoutaunifiedContentManagementSystemthatprioritisestransparency,communication,efficiencyandaccesstoinformation.Thishasenabledtheeditorialteamstomanagenewsflowsonasingleunifiedplatformthathasincreased theirproductivity.TheCompanyadoptedMethode,acuttingedgesoftwareplatformusedby top internationalmediahousesforthepurpose.

Apartfromvariousdigitalmediaplatforms,HTMLisintootherbusinessdomainslikeeducationandjobs.WhiletheCompanyusesStudymate to impartsupplementaryeducation toclassVIII toXIIstudents (throughHTLearningCentersLimited,SubsidiaryCompany), itoffersmanagementeducation throughBridgeSchoolofManagement (through IndiaEducationServices Private Limited, Subsidiary Company). In addition, HTML possesses a job portal (Shine.com), and a mobilemarketingandsolutionprovider(DigitalQuotient)(throughasubsidiarycompany)

TheequitysharesofHTMLandoneof itssubsidiaries,HindustanMediaVenturesLimitedare listedonNationalStockExchangeofIndiaLimitedandBSELimited.

BUSINESS OVERVIEW OF DIGICONTENT

AsonthedateofthisAbridgedProspectus,Digicontentisnotcarryingonanybusinessactivity.PursuanttotheSchemeofArrangementbecomingeffective,“Entertainment&DigitalInnovationBusiness”(includingalltheestate,assets,rights,claims, title, interest and authorities including accretions and appurtenances of the “Entertainment & Digital InnovationBusiness”)shall,withoutanyfurtheract,instrument,deed,matterorthing,bedemergedfromHTMLandstandtransferredtoandvestedinDigicontent.

IntermsoftheMemorandumofAssociationofDigicontent,itsmainobjectsasonthedateofthisAbridgedProspectusisasunder:

1. Toengagein,deal,carryoutanyactivityorbusinessinthedigitalmediaspaceandelectronicmedia,forcreation,disseminationand/orintegrationofnews,knowledge,information,entertainment,brand/eventpromotionandcontentofgeneralinterest,inEnglish,Hindioranyotherlanguage,acrosstheglobethroughnetworking,telecom,web-pagedesign,creation,hosting,radio,televisionand/oranyothermodeofcommunicationwhethercurrentlyinvogueorwhichmaybeinvogueinthefuture.

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2. TocarryoninIndiaorelsewhere,thebusinesstoproduce,promote,manage,project,procure,acquirerights,developdigitalandothertools,create,curate,edit,aggregate,digitalcontent(includingphoto,audioandvideocontent)and/or toparticipate in,manufacture,process,aggregate,accumulate,syndicate,prepare,alter,develop,edit,exhibit,broadcast,transmit,make,remake,display,print,reprint,convert,duplicate,finish,buy,sell,promote,run,import,export,actasbroker,agent,distributor,proprietor,organizers,promoter,sponsors,copyrightowner,audio&videorightowner,mediapartners/advisorsordealinanymanner,inallkindsofaudio,video,photoordigitalcontent,liveandrecordedsports,entertainmentevents,music,news&currentaffairsevents,summits,pageants,concerts,shows,exhibitions,premiers,inalllanguagesinIndiaorelsewhere.

3. Tocarryonbyitself,orthroughfranchiseesorlicensees,classifiedadvertisementbusinessincludingbutnotlimitedtojobs,education,property,automobile,matrimonial,travel,saleorpurchaseofmerchandiseand/orprovidingservicesinrelation thereto, through internetoranyotherdigitalmedium; toprovideweb-basedservices, includingbutnotlimitedtogaming,blogging,audio-videostreamingetc.bydesigning,creating,hosting,servicingweb-sitesoranyotherplatform,establishing,providing,operatingandmanaging,e-commerce,direct-to-home,m-commerceplatforms,forsaleofallcategoriesofproductsand/orservices;tocreate,developandmarketanytechnologyforfacilitationofmobileorelectronicorinternetbasedpaymentsoranyothertechnologybasedpaymentsfortransactions,whethercurrentlyinvogueorwhichmaybeinvogueinthefuture.

4. TocarryonanybusinessrelatingtoInternetore-mail,networkingandcommunicationenvironments,includingbutnotlimitedtosearchengines,jobs,education,property,automobile,classifieds,matrimonial,travel,sale/purchaseofmerchandiseand/orprovidingservicesetc.throughinternet/on-linemediumand/ortoprovidevariousweb-basedservices,includingbutnotlimitedtogaming,blogging,audio/videostreamingetc.bydesigning,creating,hosting,servicing etc. appropriate web-sites, merchandising the web-sites or any other internet based media, to be thelicensee of different web-sites, to manage, operate and maintain web-sites of different types (content, technicalorotherwise)web relatedproductsor internet relatedactivitiesand toexecutee-commerce,e-logic,e-solutions,businessofinternetservice,electronicmailservice,facsimileservice,contentmarketingefficiencymodel,contentandeventaggregationforonlinemediumand/ormobileapplications,providingorengaginginbusinessofm-commercesolutions,providingcontentforvalueaddedservicesinmobiletelephonesand/orothercommunicationsystemsandtocarryonanyinternet,web-basedoranyotherprevalentorfuturetechnologybasedbusiness.

5. Tocarryonthebusinesstoactasadvisors,consultants,guides,executants,agents, liaisonrepresentativesor inanyothermanner,formarketingpromotionand/orbrandpromotion,includingbusiness-to-businesssolutionsofanyproduct,person,entity,advertisementandpublicrelationsagency,governmentandnon-governmentalorganization,through all communication mediums, including but not limited to newspaper, magazine, pamphlet, publications,television,events,conferences,radio,mobile,internet,satelliteinIndiaorabroadoranyotherkindofmediacurrentlyinvogueorwhichmaybeinvogueinthefuture.

DETAILS OF BOARD OF DIRECTORS OF DIGICONTENT

Sr. No.

Name, Designation and

DIN

Date of Appointment

Experience

1. ShriPriyavratBhartia

DirectorDIN:00020603

August14,2017 ShriPriyavratBhartiaisaDirectoroftheCompanyandisalsoaDirectorofHTML.HeholdsaMastersdegreeinBusinessAdministrationfromStanfordUniversity (USA).ShriPriyavratBhartia startedhis careerasafinancialanalystwithWassersteinPerella&Co.,NewYork, in1998.ShriPriyavratBhartiaisalsoadirectorwithanumberoflistedcompaniesincludingHindustanMediaVenturesLimited.

2. ShriRajivVerma


August14,2017 Shri Rajiv Verma is a Director of the Company and is also ChiefExecutiveOfficerofHTMLsince2004.HeholdsadegreeinMechanicalEngineering from Delhi College of Engineering. Shri RajivVerma hasover35yearsofcross-sectoralexperienceinIndia,SouthEastAsiaandEurope.ShriRajivVermahaspreviouslyworkedwithvariousMNCs.

3. ShriSharadSaxena


August14,2017 ShriSharadSaxena is aDirector of theCompanyand is alsoExecutiveDirector–Operations&HRofHTML.AMechanicalEngineeringfromBirlaInstituteofTechnology,Mesra,ShriSharadSaxenahasover35yearsofrich,diverseandextremelysuccessfulleadershipexperiencespanningendtoendSupplyChainOperations,HumanResourcemanagementforlargecompanies, Project management, IT operations and advanced Research&Development,spreadoverdifferentindustryverticles–Media,Railways,AutomobilesandFood&Beverages.Hehasheldkey leadership roles invariouscompaniespriortojoiningtheCompany.

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OBJECTS OF THE ISSUE

Digicontent doesnotproposetoraiseanycapitalandtheequitysharesofDigicontentareproposedtobelistedthroughtheSchemeofArrangement.

Details and reasons for non-deployment or delay in deployment of proceeds or changes in utilization of issue proceeds of past public issues/rights issues, if any, of the Company in the preceding 10 years.

Digicontentisanunlistedcompanyandhasnotundertakenanypublic/rightsissuesinceincorporation.

CAPITAL STRUCTURE OF DIGICONTENT AS ON DATE OF THIS ABRIDGED PROSPECTUS

AuthorisedShareCapital Rs.1,00,000comprisingof50,000equitysharesoffacevalueRs.2each

Issued,SubscribedandPaidupCapital Rs.1,00,000comprisingof50,000equitysharesoffacevalueRs.2each

SHAREHOLDING PATTERN OF DIGICONTENT

Sr. No.

Particulars Pre Scheme of Arrangement Post Scheme of Arrangement &

No. of shares %age No. of shares %age

1 Promoter 50,000@ 100.00 4,04,44,273 69.51

2 Public - - 1,71,98,233 29.55

3 NonPromoterNonPublic(EmployeeBenefitTrustunderSEBI(ShareBasedEmployeeBenefit)Regulations,2014)

- - 5,44,572 0.94

Total 50,000 100.00 5,81,87,078 100.00

@Includessharesheldby6individualsasnomineesofthePromoter

&ThenumberofequitysharesproposedtobeheldbyshareholdersinDigicontenthasbeenarrivedatbyapplyingshareentitlement ratioenshrinedatClause12.1of theSchemeofArrangement (assuming theshareholdingpatternofHTMLasonMarch31,2018).Simultaneously,with the issueandallotmentofnewequitysharesbyDigicontent to theequityshareholdersofHTMLinaccordancewithClause12.1oftheScheme,anyequitysharesheldbyHTMLinDigicontentshallstandcancelled,extinguishedandannulledonandfromtheEffectiveDate.

SUMMARY OF FINANCIAL STATEMENTS

Digicontent is anunlisted companyandhasbeen incorporatedonAugust 14, 2017.Asper theCompaniesAct, 2013,thefirstfinancialyearofDigicontentshallendonMarch31,2018andfirstauditshallbeconductedthereafter.

INTERNAL RISK FACTORS

1. Keytalent:theacquisitionandretentionofkeytalentisgoingtobecriticaltothecontinuedscalingofthedigitalbusiness.

2. Business model evolution: the business models on digital continue to evolve at a rapid pace, with the industryexperimentinginnewareassuchasbrandedcontentandsubscriptions.TheCompany’sdigitalbusinesswillneedtokeeppacewiththisevolution.

3. Newproductareas:asthemarketfordigitalexpands,theCompanywillhavetolaunchnewproductsandservicestoaddressit.Thedigitalbusinesswillcontinuallyneedtokeepevaluatingandinvestinginareasthatareshowingtractionandactivelydisinvestfromareasthatarenot.

SUMMARY OF OUTSTANDING LITIGATIONS, CLAIMS AND REGULATORY ACTION

A. Total number of outstanding litigations against the Company and amount involved: Nil

B. Regulatory action, if any: Disciplinary action taken by SEBI or stock exchange against the Promoter / Promoter Group companies in the last 5 years including outstanding action, if any:HTMListhesolepromoterofDigicontent.Noregulatory/disciplinaryactionhasbeentakenbySEBIorstockexchangesagainstHTML/PromoterGroupCompaniesinthelast5yearsnoranysuchmatterispendingfordisposal.

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C. Brief details of outstanding criminal proceedings against Promoter (HTML):

Sr. No. Parties involved Nature of criminal case

Brief particulars of the case

1 KishoreLalChughv/sHTMediaLimited&Ors.

Defamationcase A criminal complaint was filed at Belapur againstpublication of the news article in Hindustan Hindi.This isadefamationcomplaint in respectofanewspublished.

2. LeenaKalrav/sHTMediaLimited&Ors.

Defamationcase AcriminalcomplainthasbeenfiledbytheComplainantLeena Kalra towards publication on news article innewspaperHindustanTimes,DelhiEdition.

3 KTSSaraov/sHTMediaLimited&Ors.

Defamationcase AcriminalcomplainthasbeenfiledbytheComplainantKTS Sarao towards publication on news article innewspaperMetroNowwhereinHTMediahasbeenarrayedasDefendantNo.5.

DECLARATION BY THE COMPANY

WeherebydeclarethatallrelevantprovisionsoftheCompaniesAct,2013andtheguidelines/regulationsissuedbytheGovernmentofIndiaortheguidelines/regulationsissuedbytheSecuritiesandExchangeBoardofIndia,establishedundersection3oftheSecuritiesandExchangeBoardofIndiaAct,1992,asthecasemaybe,havebeencompliedwithandnostatementmadeinthisAbridgedProspectusiscontrarytotheprovisionsoftheCompaniesAct,2013,theSecuritiesandExchangeBoardof IndiaAct,1992or rulesmadeorguidelinesor regulations issued thereunder,as thecasemaybe.WefurthercertifythatallstatementsinthisAbridgedProspectusaretrueandcorrect.

ForDigicontent Limited

Sd/-(Sharad Saxena)Director

Date:April6,2018

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BEFORE THE HON’BLE NATIONAL COMPANY LAW TRIBUNALNEW DELHI BENCH

COMPANY APPLICATION NO. (CAA)- 24 (ND) / 2018

InthematteroftheCompaniesAct,2013;

And

InthematterofSections230to232readwithSection66andotherapplicableprovisionsoftheCompaniesAct,2013;

And

InthematterofSchemeofArrangementbetweenHTMediaLimitedandDigicontentLimited(FormerlyknownasHTDigitalVenturesLimited)andtheirrespectiveshareholdersandcreditors.

HTMediaLimited,AcompanyincorporatedundertheprovisionsoftheCompaniesAct,1956andhavingitsregisteredofficeat18-20,KasturbaGandhiMarg,NewDelhi–110001.

-----Applicant 1/ Demerged Company/HTML

EQUITY SHAREHOLDERSPROXY FORM

[AsperFormMGT-11andpursuant toSection105(7)of theCompaniesAct,2013andRule19(3)of theCompanies(ManagementandAdministration)Rules,2014]

CIN: L22121DL2002PLC117874Name of the Company:HTMediaLimitedRegistered office: 18-20,KasturbaGandhiMarg,NewDelhi-110001

NameoftheShareholder(s):……………………………………….....................…………………....

Registeredaddress:…………………………………………………………………………..................

………………………………………………………………………………….....……………………..

E-mailId:.............…………………......................................…………….....……………….........

FolioNo.…...............…………………………DPIdClientId:………………………...………....

I/We, being the Shareholder(s) of …………………..……….................................. shares of the above named company,herebyappoint

1.Name:…………………………............................E-mailId:…..............................................

Address:….....………………………………………………………………….................................

…………………………………………………………Signature:…………..……………...............

orfailinghim/her,

2.Name:…………………………............................E-mailId:…..............................................

Address:….....………………………………………………………………….................................

…………………………………………………………Signature:…………..……………...............

orfailinghim/her,

3.Name:…………………………............................E-mailId:…............................................

Address:….....………………………………………………………………….................................

…………………………………………………………Signature:…………..……………...............

as my/our proxy to attend and vote through ballot paper for me/us and on my/our behalf at the Meeting of the EquityShareholdersoftheCompany,tobeheldonSaturday,June9,2018at11:00a.m.(1100Hours)atSiriFortAuditorium-II,A-25,BalbirSaxenaMarg,SiriFortInstitutionalArea,GulmoharPark,NewDelhi-110049,andatanyadjournmentthereof,inrespectofsuchresolution(s)asindicatedbelow:

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S. No. Resolutions For* Against*

1. To consider and, if thought fit, approve, with or without modifications(s),the Scheme of Arrangement between HT Media Limited (DemergedCompany)andDigicontentLimited(ResultingCompany)andtheirrespectiveshareholdersandcreditorsunderSections230to232readwithSection66andotherapplicableprovisionsoftheCompaniesAct,2013

Signedthis____dayof__________,2018

AffixRevenueStampofRe1/-

(Signatureacrossthestamp)

................................................ ................................................

SignatureofEquityShareholder SignatureofProxyholder(s)

*It is optional to indicate your preference. If you leave ‘For’ or ‘Against’ column blank against the resolution(s), your proxy will be entitled to vote in the manner as he/she may deem appropriate.

Notes:

1. ThisProxy form inorder tobeeffectiveshouldbedulycompletedanddepositedat theRegisteredOfficeof theCompany,notlessthan48hoursbeforecommencementoftheMeeting.

2. Pleaseaffixappropriaterevenuestampbeforeputtingsignature.

3. TheProxyformshouldbesignedacrossthestampasperspecimensignatureregisteredwiththeRegistrar&ShareTransferAgent/Depository.

4. AllalterationsmadeintheProxyformshouldbeinitialled.

5. ProxyneednotbeashareholderofHTMediaLimited.

6. Nopersonshallbeappointedasaproxywhoisaminor.

7. IfCompanyreceivesmultipleproxiesforthesameholdingofanequityshareholder,theProxywhichisdatedlastshallbeconsideredvalid;iftheyarenotdatedorbearthesamedatewithoutspecificmentionoftime,allsuchmultipleProxiesshallbetreatedasinvalid.

8. Theproxyofashareholder,blindorincapableofwriting,wouldbeacceptedifsuchshareholderhasattachedhissignatureormarktheretointhepresenceofawitnesswhoshalladdtohissignaturehisdescriptionandaddress:providedthatallinsertionsintheproxyareinthehandwritingofthewitnessandsuchwitnessshallhavecertifiedatthefootoftheproxythatallsuchinsertionshavebeenmadebyhimattherequestandinthepresenceoftheshareholderbeforeheattachedhissignatureormark.

9. TheproxyofashareholderwhodoesnotknowEnglishwouldbeacceptedifitisexecutedinthemannerprescribedinpointno.8aboveandthewitnesscertifiesthatitwasexplainedtotheshareholderinthelanguageknowntohim,andgivestheshareholder’snameinEnglishbelowthesignature

10. FortheResolution(s),ExplanatoryStatementandNotes,pleaserefertheNotice.

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HT Media LimitedCIN: L22121DL2002PLC117874

Registered Office: 18-20,KasturbaGandhiMarg,NewDelhi-110001Ph.: +911166561608 Fax: +911166561445

E-mail: [email protected]: www.htmedia.in

EQUITY SHAREHOLDERSATTENDANCE SLIP

MEETING OF THE EQUITY SHAREHOLDERS OF HT MEDIA LIMITED ON SATURDAY, JUNE 9, 2018 AT 11:00 A.M.

PLEASE COMPLETE THIS ATTENDANCE SLIP AND HAND OVER AT THE ENTRANCE OF THE MEETING HALL

I/Weherebyrecordmy/ourpresenceattheMeetingoftheEquityShareholdersofHTMediaLimited,convenedpursuanttoOrdersdatedMarch6,2018andApril13,2018of theHon’bleNationalCompanyLawTribunal,NewDelhiBenchatSiri Fort Auditorium-II, A-25, Balbir Saxena Marg, Siri Fort Institutional Area, Gulmohar Park, New Delhi -110049,onSaturday,June9,2018at11:00a.m.

NameandaddressoftheEquityShareholder(INBLOCKLETTERS)

*DPID/ClientIDNo.

**Regd.FolioNo.

No.ofEquitySharesheld

NameandaddressofProxy***(INBLOCKLETTERS)

___________________________ ___________________________

SignatureoftheEquityShareholder SignatureoftheProxyHolder

*ApplicableforEquityShareholderholdinginDematForm**ApplicableforEquityShareholderholdinginPhysicalForm***TobefilledinbytheProxyincasehe/sheattendsinsteadoftheEquityShareholder

Notes:

1. EquityShareholdersattendingthemeetinginpersonorbyproxyorthroughauthorisedrepresentativearerequestedtocompleteandbringtheAttendanceslipwiththemandhanditoverattheentranceofthemeetinghall.

2. EquityShareholderswhoholdsharesindematerializedformarerequestedtobringtheirclientIDandDPIDforeasyidentificationofattendanceatthemeeting.

3. EquityShareholderswhocometoattendthemeetingarerequestedtobringtheircopyoftheNoticeandSchemewiththem.

4. EquityShareholdersareinformedthatincaseofjointholdersattendingthemeeting,onlysuchjointholderwhosenamestandsfirstintheRegisterofMembersofHTMediaLimitedinrespectofsuchjointholdingwillbeentitledtovote.

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Route map to the venue of the 15th Annual General Meetingof HT Media Limited

Siri Fort Auditorium II, A-25, Balbir Saxena Marg,Siri Fort Institutional Area, Gulmohar Park,New Delhi - 110 049

Route map to the venue of the Meeting of HT Media Limited