Network Ltd has informed BSE that the members of the Company, by way of Postal Ballot, have passed the Ordinary Resolution for authorising the Board of Directors of the Company (including any committee thereof) to dispose off, by way of sale / lease / transfer or otherwise, retail division of the Company, with effect from April 01, 2008 or such other date as the Board may deem fit (”the Appointed Date”), on a going concern basis, to a subsidiary Company Network Retail Ltd, on such terms and conditions as the Board may consider fit and proper in the interest of the Company, with requisite majority.