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From: Vikki Choudhry Sent: 08 May 2013 06:54 To: jessica.silvergreenberg@nytimes.

com Cc: Frank Daniel Reuters Subject: Fw: Investments in Den Networks Limited

Den Networks up on Goldman Sachs unit investment


Tue May 07 07:55:25 UTC 2013

Reuters Market Eye - Shares of Den Networks Ltd <DENN.NS> gain 0.7 percent to trade near their 52-week high of 238.90 rupees after a private equity fund unit of Goldman Sachs Group Inc <GS.N> agreed to invest $110 million in the cable distribution network company. Den Networks will sell shares to the Goldman Sachs unit at 217.50 rupees each, the company said in an exchange filing on Monday, without specifying how many shares would be sold. Den Networks will also raise money by selling shares to institutional investors at 217.23 rupeees each, according to the statement, which did not mention how much would be raised.

Dear Ms. Silvergreenberg Good Evening! On being informed of the above mentioned report in the Media, Please find below our immediate caution mail sent to Goldman Sachs and its head of legal advisory Mr. David Willis about the company DEN Networks limited, and the modus operandi being adopted by this company to cheat its investors. PFA also the representation sent to the Indian PM Office enumerating all the facts of financial bungling and embezzlement of the investors money by the said company DEN Networks Limited In case of any further clarification please feel free to contact me Regards Vikki Choudhry Mobile# +91 9811144467 Email: vikki@ncta.in

From: Vikki Choudhry Sent: 08 May 2013 04:41 To: Information@BroadStreetAdvisors.com ; gs-investor-relations@gs.com ; david.willis@hsf.com Subject: Investments in Den Networks Limited

Dear Investors and Associate Investment advisors, We are writing to you here, in order to caution you regarding any future investments in an Indian MSO entity DEN Networks Limited, founded and led by former TV executive Mr. Sameer Manchanda. where the company after squandering and been successful to siphon billions of Rupees of the Public investor and institutional investors in India, Is now looking forward to squander and embezzle foreign investors money. Please find attached a representation made to the Honble Prime Ministers Office and various other Indian investigating agencies in early January this year. This MSO claims to have presence in almost 11 million Cable homes through Local Cable operators and have further made claims to have seeded almost 3- 4 million digital set- top boxes in the cable TV subscriber homes. That where procured at a higher price from the various STB vendors, The company further have distributed these STBs through its distributors and various JV partners to the LCO/ LMOs only after collecting a price of Rs. 800 1000 ( US$ 15- 20 ) in cash for each of the STB that the Subscribers have handed over to the LCO/ LMO and this was further handed over to the Distributors and JV Partners of the Company . Almost Rs 400 Crores has been collected in cash on account of the distribution of these Digital STBs but only Rs. 18 Crores has been deposited in the company accounts. This cheating and embezzlement of the public investors and the Cable TV Subscriber monies has been carrying on since the very inception of this company. And also there are serious allegation against the company officials of bribing Government officials here and that can have very serious consequences under the FCPA Foreign Corrupt Practices Act of 1977 as any further funds received by this Public limited company will be solely utilized to cover up the past embezzlement and cheating of the public investor and the institutional investors investments made therein. We are making these revelations being an industry analyst and based on having insider information about the operations of this said company that has been shared with us by various Distributors , JV partners, Company officials, Vendors and Equipment suppliers and the LMOs/ LCOs associated or have done business at some time, with this Company. With Best Regards Vikki Choudhry President - NCTA Email: vikki@ncta.in Mobile:+91 98111 44467

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