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.
Dish TV India s board has upheld its earlier decision to reject a second request by minority shareholders to conduct an Extraordinary General Meeting (EGM) due to numerical and procedural inconsistency. The Dish TV Minority Shareholders Association had sent a second requisition notice on June 29 reiterating its old demands of removing Shankar and Rashmi Aggarwal from the board and hiring several non-executive independent directors.
DTH operator Dish TV India s board has rejected the requisition notice of minority shareholders for holding an Extraordinary General Meeting (EGM) for the second time. Just like the first requisition notice, the second one has also been rejected due to numerical and procedural invalidity. The company said the decision was taken after advice from independent and eminent experts.
Minority investors of Dish TV India have called for an investigation into alleged fund diversion by Zee Entertainment Enterprises, a sister company of Dish TV. The investors, who own a combined 10.15% stake, have demanded a special shareholder meeting and expressed disappointment in the company s directors for failing to ensure strong corporate governance. Dish TV s minority investors include IndusInd Bank, Aditya Birla Sun Life Flexi Cap Fund, and Phoenix ARC. This comes after Yes Bank expressed dissatisfaction with Dish TV s management in 2020 and demanded a board reconstitution.