AGM: Dish TV appoints 3 independent directors, to convene AGM on Dec 29

Direct-to-Home operator Dish TV on Tuesday announced the appointment of three new independent directors to the board of the company, which is the first major appointment after the departure of its former promoter-backed chairman Jawahar Lal Goel. Besides, the company also announced the resignation of Rajeev Kumar Dalmia, its executive director, from the board with effect from the close of business hours on Tuesday, Dish TV said in a regulatory filing.

However, it also added, Dalmia would “continue to act as Chief Financial Officer of the Company.”

According to Dish TV, Dalmia has tendered his resignation from the Company’s Board of Directors and all other committees.

Besides, the board of the company in its meeting on Tuesday also “approved the convening of the adjourned 34th Annual General Meeting” of the company on December 29, 2022.
During the AGM, Dish TV would seek approval of shareholders for the appointments of three new independent directors – Sunil Kumar Gupta, Madan Mohanlal Verma and Gaurav Gupta.

Shareholders of Dish TV in September this year rejected four resolutions in the AGM, including the adoption of the company’s financial statements for FY21 and FY22 and the appointment of independent director Rakesh Mohan.

The shareholders rejected the ordinary resolution for adoption of the audited standalone and consolidated financial statements and report of the board of directors and auditors for 2020-21 with 84.54 per cent voting against it, Dish TV had informed in a regulatory filing.

Similarly, the adoption of the audited standalone and consolidated financial statements and report of the board of directors and auditors for 2021-22 was also rejected by the shareholders with 77.08 per cent votes against the ordinary resolution.

A special resolution for the appointment of Rakesh Mohan, a former bureaucrat, as a non-executive independent director was also rejected with 76.87 per cent votes against it, the filing had said.

Dish TV shareholders in its last AGM held on December 30, 2021, had also rejected all three proposals, including the adoption of financial statements and the reappointment of Ashok Mathai Kurien as director.

Its chairman Jawahar Lal Goel also resigned from the board of the company on September 19.

Dish TV’s largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its chairman Jawahar Lal Goel were engaged in a legal battle over board representation in Dish TV.

YBL, having over 24 per cent share, was pushing for reconstitution of the Dish TV board and removal of Goel along with some other persons.

Earlier in June, the shareholders in an extraordinary general meeting had rejected the proposal for the reappointment of Goel as managing director.