2006
 
 - Global Broadcast News Ltd (GBN), a TV18 Group company and owner of
 CNN-IBN, has filed its draft red herring prospectus with the
 Securities & Exchange Board of India to enter the capital market with
 its initial public offering of equity shares. The company proposes to
 raise up to Rs 105 crore through the issue of equity shares of Rs 10
 each for cash at a premium to be decided through the 100 per cent
 book-build process.
 
 Our Company was incorporated on June 6, 2005 under the Companies Act
 
 as Global Broadcast News Private Limited. Subsequently, our Company
 became 
 a public limited company under Section 44 of the Companies Act with
 effect from 
 December 12, 2005 and the name of the Company was changed to Global 
 Broadcast News Limited.
 
 The registered office of the Company was originally situated at 9th
 Floor, Videocon 
 Tower, E-1, Rani Jhansi Road, Jhandewalan Extension, New Delhi 110
 005 which 
 was later shifted to B-2, Kailash Apartment, Lala Lajpat Rai Marg,
 New Delhi 110 048 
 with effect from November 15, 2005.
 
 Scheme of Amalgamation
 
 Pursuant to resolutions of the Board of Directors of SRH and our
 Company dated 
 May 2, 2006 we have made an application to the High Court of Delhi
 for approval of 
 a scheme of amalgamation between our Company and SRH (Scheme of
 Amalgamation).
 
 Upon successful implementation of the Scheme of Amalgamation the
 whole of the 
 undertaking of SRH comprising all of its assets and liabilities shall
 be transferred to and 
 vested in and/or be deemed to be transferred to and vested in our
 Company. In 
 consideration for the same our Company shall issue and allot Equity
 Shares at par to each 
 shareholder of SRH in the swap ratio as specified under the Scheme of
 Amalgamation. For 
 details see section titled Restructuring beginning on page 2 of this
 Draft Red Herring 
 Prospectus.
 
 Major Events
 
 Year                                                         Event
 
 June, 2005           Global Broadcast News Limited was incorporated
 as a private limited 
                              company.
 
 August, 2005        Global Broadcast News Limited received permission
 from the MIB to
                              uplink an English news television
 channel.
 
 October, 2005      Brand license agreement with CNN and news services
 agreement with
                              Turner were executed.
 
 December, 2005   CNN-IBN, the 24 hour English news channel was
 launched.
 
 July, 2006             Our Company entered into a share purchase,
 share subscription and
                              shareholders agreement with Gupta
 family, BK Fincap Private Limited,
                              Jagran TV Private Limited and others in
 relation to acquisition of equity
                              shares in BK Fincap Private Limited.
 
 2008
 
 - Company name has been changed from Global Broadcast News Ltd. to
 IBN18 Broadcast Ltd.
 
 - The Company has splits its face value from Rs10/- to Rs2/-.