DTH
Dish TV granted in-principle approval for 20-year DTH licence
KOLKATA: Popular direct-to-home (DTH) operator Dish TV has renewed its DTH license for 20 years, subject to completion of necessary formalities.
Dish TV informed the stock exchange in a regulatory filing that it has received in-principle approval from the ministry of information and broadcasting (MIB) for grant of provisional licence to provide DTH broadcasting service in India with effect from 1 April 2021.
The DTH operator has to enter into an agreement with MIB, containing terms and conditions of the amended DTH guidelines, obtain and provide to the ministry other necessary clearances as envisaged under the guidelines, and provide the bank guarantee.
Dish TV had first received DTH licence in October 2003.
After resolving the long standing impasse on the DTH license policy, the government announced in December 2020 that DTH licences will now be issued for a period of 20 years. Under the new rules, licence fee will be collected quarterly instead of annually.
Changes had been approved for 100 per cent foreign direct investment (FDI) in the DTH sector which was limited to 49 per cent.
According to the new guidelines, the licensee will need to pay an annual fee equivalent to eight per cent of its adjusted gross revenue, calculated by excluding GST from gross revenue (GR) as reflected in the audited accounts of the company for that particular financial.
DTH Operator
JC Flowers withdraws NCLT plea against Dish TV over EGM demand
Move eases pressure on DTH firm as long-running shareholder dispute cools
MUMBAI: In a breather for Dish TV India, JC Flowers Asset Reconstruction has withdrawn its petition before the National Company Law Tribunal seeking directions to convene an extraordinary general meeting.
The development was disclosed by Dish TV in a regulatory filing, confirming that the petitioner chose to withdraw the case during a hearing at the Mumbai bench of the tribunal. A detailed order from the bench is still awaited.
The petition, originally filed under Sections 98 to 100 of the Companies Act, 2013, sought to push for an extraordinary general meeting to address governance issues at the company. The case had its roots in a prolonged shareholder tussle dating back to 2021, when Yes Bank, then the largest shareholder, was at odds with the promoter group led by Subhash Chandra over board reconstitution.
JC Flowers had stepped into the picture as an assignee of Yes Bank’s stressed assets, effectively continuing the legal push initiated earlier. The withdrawal now signals a pause, if not a closure, to that chapter of dispute.
While the reasons behind the withdrawal have not been formally detailed, the move reduces immediate legal pressure on Dish TV, which has been navigating both operational and regulatory challenges in recent years.
For now, the focus shifts back to the company’s business fundamentals, even as the legal dust settles, at least temporarily, on one of its more closely watched shareholder battles.
