Dish TV India s shareholders rejected the appointment of four directors at its extraordinary general meeting, reducing the board s effective strength to three directors. Over 71% of votes were against the appointment of Rajesh Sahni and Virender Kumar Tagra as non-executive, non-independent directors. Special resolutions for Aanchal David s nomination as an independent director and Shankar Aggarwal s reappointment as an independent director were also defeated.
Dish TV India s shareholders rejected the appointment of four directors at its extraordinary general meeting, reducing the board s effective strength to three directors. Over 71% of votes were against the appointment of Rajesh Sahni and Virender Kumar Tagra as non-executive, non-independent directors. Special resolutions for Aanchal David s nomination as an independent director and Shankar Aggarwal s reappointment as an independent director were also defeated.
From the all-time high level of 21,593 points, the Nifty 50 slumped more than 400 points or 1.4% and settled at 21,150. The Sensex plunged by over 1,400 points from its lifetime high of 71,913 to end at 70,506, a 1.3% cut. The sell-off was broad-based and more prominent in the smallcap segment, which witnessed a healthy correction after several months.
The appointments will become effective on the date of receipt of the approval of the Ministry of Information and Broadcasting (MIB) or the date on which the number of directors on the board falls below the statutory minimum number of three directors, whichever is earlier.