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.
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.
Dish TV India s minority shareholders have issued a second requisition notice for an extraordinary general meeting (EGM) to appoint three independent directors and remove two current directors. The group was unhappy about Dish TV s financial performance, its governance and a lack of disclosure of AGM results. The company said it would respond in accordance with laws governing the EGM, but had already rejected the group s first requisition notice for failing to meet numerical and procedural requirements.