DTH

Dish TV India to convene 33rd AGM on 30 November

The company had earlier sought an extension of the AGM till 31 December.

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Mumbai: Dish TV India has informed its shareholders that its board of directors has approved the convening of the 33rd Annual General Meeting (AGM) on 30 November after a resolution was passed by the board on 7 November.

On 29 October, the company had applied to the Registrar of Companies, Mumbai seeking an extension till 31 December to convene the AGM.

Dish TV India had first sought an extension of the AGM in a notice submitted on 19 September. The AGM was previously scheduled to be held on 27 September. In its notice to the BSE, the company applied for the extension to ensure compliance with a notice sent by Dish TV India’s largest shareholder Yes Bank.

In another development, the crime branch in Gautam Buddh Nagar (a district in Uttar Pradesh) has sent a notice to Dish TV India on 6 November, restricting Yes Bank from dealing in/and or exercising any rights over equity shares of Dish TV India held by Yes Bank until completion of an investigation being conducted by them. More details on the investigation are awaited.

Yes Bank, which has a 25.63 per cent shareholding in Dish TV India had sought the removal of directors of the company including managing director Jawaher Lal Goel and independent directors Dr. Rashmi Aggarwal, Bhagwan Das Narang, Shankar Agarwal, and Ashok Mathai Kurien.

The bank had proposed the appointment of a new board including Akash Suri, Sanjay Nambiar, Vijay Bhatt, Haripriya Padmanabhan, Girish Paranjape, Narayan Vasudeo Prabhutendulkar, and Arvind Nachaya Mapangada.

Dish TV India board rejected the EGM notice by Yes Bank stating that a resolution to reconstitute the board can only be placed post receipt of approval from the ministry of information and broadcasting and other requisite approvals for appointment of new directors, within statutory guidelines.

Yes Bank moved National Company Law Tribunal Mumbai with a petition to call for an extraordinary general meeting (EGM) of shareholders of Dish TV India and pass its resolution. 

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