Dish TV Crisis: Shockingly four independent Directors were rejected by shareholders

Dish TV Crisis: Shockingly four independent Directors were rejected by shareholders

Dish TV appointed Sunil Khanna and Ravi Bhushan Puri on BOD.

Dish TV

Mumbai - At extraordinary meetings of Dish TV shareholders, shockingly shareholders rejected the candidature of four independent candidates during the meeting. In recent developments, Dish TV India approved Sunil Khanna as an independent director and Ravi Bhushan Puri as an executive director.

According to the mint report, due to the rejection of 4 independent directors, an Extraordinary General Meeting ( EGM) was called out on 3 March, and the resignation of Independent director Zohra Chatterjee effective from 2 June. The appointment of new directors Sunil Khanna, and Ravi Bhushan Puri became effective after Ministry of Information and Broadcasting (MIB) approval.

According to Dish TV's statement, Ravi Bhushan Puri will not be entitled to additional remuneration for an aforementioned appointment. He will continue with the designation of ' Corporate Head of Broadcasting' in the company.

Dish TV faced a board strength shortfall that is not aligned with the mandatory requirements of SEBI ( Security Exchange Board of India) for six directors. Now in contingency by the disapproval of four independent directors, the company stated to have taken compliance measures with listing regulations.

According to exchange filings, the appointment of Rajesh Sahni, Virender Tagra, Aanchal David, and Shankar Agrawal was rejected by minority shareholders. Before this EGM meeting development of Dish TV 13 Directors was rejected by shareholders in 2021.

Internal financial stability problems will be addressed by shareholders of the company in the upcoming days.