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Dish TV appoints new independent directors

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MUMBAI: Dish TV, in the recently held 26th Annual General Meeting (AGM) announced the appointment of four new independent directors in the company.

Lakshmi Chand, Bhagwan Dass Narang, Arun Duggal and Eric Louis Zinterhofer have been appointed as independent directors of the company to hold office for a term of three years.

According to the statement issued by the company, all the four independent directors were appointed as “Director whose office was liable to retire by rotation, be and is hereby appointed as independent director of the company, whose office is not subject to retirement by rotation, to hold office for a term of three consecutive years.”

Lakshmi Chand was an independent non-executive additional director on the board of the company. He is a post graduate in MA (Eco) from Punjab University and is a Law graduate from Delhi University.

101 equity shareholders representing 78,27,27,656 equity shares comprising 99.999 per cent of  total  votes casted, voted in favor of the resolution of appointing Chand as an independent director and seven equity shareholders representing  10,170 equity shares comprising 0.001 per cent of total votes casted, voted against the resolution.

Narang was an independent non-executive member of the board and is a post graduate in agricultural economics and brings with him 32 years of banking experience.

68 equity shareholders representing 75,02,72,688 equity shares comprising 95.852 per cent of total  votes casted, voted in favor of the resolution of appointing Narang as an independent director and 40 equity shareholders representing  3,24,65,138 equity shares comprising  4.148 per cent of total votes casted, voted against.

Arun Duggal was an independent non-executive member of the board. Duggal is a Mechanical Engineer from Indian Institute of Technology, Delhi, and holds an MBA from the Indian Institute of Management, Ahmedabad.

97 equity shareholders representing 76,72,71,725 equity shares comprising 98.024 per cent of total  votes casted, voted in favor of the resolution of appointing Duggal and 11 equity shareholders representing  1,54,66,101 equity shares comprising 1.976 per cent of total votes casted, voted against.

Eric Louis Zinterhofer was an independent non-executive member of the board. Prior to co-founding Searchlight Capital Partners in 2010, Zinterhofer was a senior partner at Apollo Managemen which he joined in 1998.

61 equity shareholders representing 74,52,43,442 equity shares comprising 95.210 per cent of total  votes casted, voted in favor of the resolution of appointing Zinterhofer and 47 equity shareholders representing  3,74,94,384 equity shares comprising  4.790 per cent of total votes casted, voted against.

In the AGM, the re-appointment of Mintoo Bhandari as the non­executive nominee director was also announced.

64 equity shareholders representing  74,87,25,208 equity shares comprising  95.655 per cent of total  votes casted, voted in favor of the resolution and 44 equity shareholders representing  3,40,12,618 equity shares comprising  4.345 per cent of total votes casted, voted against.

The company recently announced its financial results for the current quarter and reported a decline in loss for the current quarter at Rs 15.1 crore as compared to the Rs 16.05 crore in the trailing quarter. The company also reported an addition of 332,000 subscribers in the quarter.

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