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Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) has allowed Dish TV India till 15 November to file its response in a petition filed by its majority shareholder Yes Bank.
Yes Bank sought NCLT’s direction to call for an extraordinary general meeting (EGM) of Dish TV India and pass a resolution for the reconstitution of the company’s board.
On 6 September, Yes Bank had sent a requisition notice to Dish TV India’s board to convene a special meeting of the shareholders seeking the removal of its board of directors including managing director Jawaher Lal Goel and independent directors Dr Rashmi Aggarwal, Bhagwan Das Narang, Shankar Agarwal, and Ashok Mathai Kurien
The bank 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.
Yes Bank holds a 25.63 per cent stake in the company. It stated that it sought the removal of the present board of directors on the grounds that the board approved a Rs 1000 crore rights issue process despite objections raised by the bank, solely to dilute the shareholding of the bank.
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.
It also postponed its 33rd annual general meeting scheduled on 27 September by two months.
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The new findings from Chrome Data Analytics and Media's July Subscriber Establishment Survey (SES) reported a significant drop in cable and satellite (C&S) homes, where the subscriber base has dropped from 201.2 million to 165.1 million households since 2019.
Dish TV, the DTH service provider has announced that director Jawahar Lal Goel has resigned from the board of the company.
Dish TV India on Wednesday announced their financial results for the first quarter of the financial year 2022–2023. The company's reported net profit declined 64.47 per cent to Rs 17.85 crore in the quarter ended June 2022 as against Rs 50.24 crore during the previous quarter ended June 2021.
Mumbai: DTH operator Dish TV has announced that the board of directors at their meeting held on Friday, i.e. 29 July, 2022 has inter-alia, upon receipt of requisite approval from the ministry of information and broadcasting and on the recommendation of the nomination and remuneration committee,...
Mumbai: The number of pay direct-to-home (DTH) subscribers decreased sharply from 68.52 million to 66.92 million in the quarter ended on 31 March 2022, as per latest Telecom Regulatory Authority of India (TRAI) performance indicator report. It has lost a total of 1.6 million subscribers during the...
Mumbai: NewSpace India (NSIL) on Thursday successfully launched GSAT-24 in its first “demand-driven” communication satellite mission post space sector reforms, leasing the entire capacity on board to direct-to-home (DTH) service Tata Play, as per a news agency report. The 24 Ku-band communication...
Mumbai: Tata Play on Thursday announced its entry into home security solutions with the launch of two products Tata Play Secure and Tata Play Secure+. Tata Play is collaborating with Google to bring to India the Google Nest security camera for its subscribers via Tata Play Secure+. Tata Play Secure...
Dish TV India has reported its results for the fourth quarter and the financial year ended on 31 March 2022. The company reported operating revenue of Rs 2802.5 crore for the financial year and Rs 642.7 crore for the fourth quarter.
