Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessEarnings

Dish TV shareholders reject results, appointments of auditor and independent director

This comes amid an ongoing dispute involving Yes Bank and Dish TV over corporate governance and fundraising plans.

September 27, 2022 / 09:16 AM IST
(Representative Image)

(Representative Image)

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Dish TV India Ltd said in a notice to exchanges that its shareholders had rejected four of six resolutions at an annual general meeting on Monday. The firm said its AGM adjourned without assigning a day for a further meeting and the board strength is now down to two members.

The resolutions not approved by shareholders include those related to adoption of financial statements for fiscal years 2021 and 2022, appointment of new statutory auditor SN Dhawan & Co, and appointment of Rakesh Mohan as non-executive independent director.

This comes amid an ongoing dispute involving Yes Bank and Dish TV over corporate governance and fundraising plans. Yes Bank wanted to reconstitute the board, seeking ouster of Jawahar Lal Goel, Bhagwan Das Narang, and other members, citing corporate governance issues.

YES Bank holds 24.19 percent stake in Dish TV by virtue of invoking pledged shares (through Catalyst Trustee) while Goel owns only six per cent stake in the company.

Earlier, Dish TV had informed the exchanges that Goel would not opt for reappointment on its board, and independent director Narang would vacate office after his term expired.

The firm also said it had agreed to appoint Sunil Kumar Gupta, Uday Kumar Varma and Haripriya Padmanabhan to the board, after approval from the information and broadcasting ministry.

Moneycontrol News
first published: Sep 27, 2022 09:16 am

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347