Subsequently, Dish TV postponed the Annual General Meeting to be held on 27 September. No new dates have been informed yet.
According to
, based on extensionunfounded reason“And Dish TV is busy with it”spread strategy“In moving the motion for the removal of its Managing Director Jawahar Goel along with four other directors.
The Essel Group direct-to-home service provider had sought an extension of one week, citing the time required for any change in the company’s CEO or board of directors, as it required the approval of the company’s board of directors. Ministry of Information and Broadcasting.
Dish TV on Thursday said that it has received a message from Yes Bank to convene the company’s shareholders’ EGM.
“The Company has received a letter titled ‘Request for convening Extraordinary General Meeting of Shareholders of Dish TV India from YES BANK on 21st September, 2021. The said notice has been received by the Company on our e-mail following the above mentioned intimation was,” Dish TV said in a regulatory update.
Yes Bank holds 47.19 crore equity shares of the company, representing 25.63 per cent of the company.
According to Yes Bank, instead of placing the resolution before the company’s shareholders at the AGM to be held on September 27, 2021, Dish TV is now seeking extension of the date for holding the AGM on the ground of “unfounded reasons”. .
It said, “In the light of the long-term strategy being adopted by the company in presenting the resolution before the shareholders, the bank is bound to issue the present notice under section 100 of the Companies Act, 2013 for holding an extraordinary general meeting of the company.” Is.”
According to Yes Bank, Dish TV had notified that change in directorship, inter alia, requires prior approval of the Ministry of Broadcasting and therefore proposals for removal and appointment of directors will not be placed before the shareholders at the AGM. can be placed.
“The Bank accordingly issued revised notices to the company dated September 9, 2021, making the effect of change in the post of directors of the company subject to receipt of MIB approval,” it said.
Yes Bank said it had submitted details of the proposed directors in its letter dated September 18, 2021 so that the company can apply to the MIB and seek their approval.
In the EGM notice, Yes Bank has demanded the removal of Rashmi Agarwal, Bhagwan Das Narang, Shankar Agarwal and Ashok Mathai Kurien from the board of Dish TV, apart from Jawahar Goyal.
Yes Bank, which is opposing the Rs 1,000 crore rights issue Subhash Chandra The Essel Group-led firm has also sent the names of seven people — two non-executive directors and five independent directors — to be nominated on the company’s board.