DTH
VSNL targets DTH platform by July; alliance with Star on the cards?
The Big Daddy is putting together its plans for direct-to-home (DTH) television and other aspirants can either try to beat them or join them.
The Hindustan Times reported on Saturday that Videsh Sanchar Nigam Ltd (VSNL) intends to be the first company in India to enter this segment with an investment in excess of Rs 2.5 billion. The proposal will be put up before the company board on 22 January for in-principle approval and VSNL hopes to be ready with a platform by July this year, the report says. VSNL’s plans are very significant as a number of players like the C. Sivasankaran-run Sterling group in partnership with Zee TV, Jain TV, DD, Modi Entertainment Network and B4U have all announced that they would either invest in or set up DTH platforms themselves.
If VSNL achieves first to market advantage, it will be in a position to offer services to these companies. VSNL chairman and managing director SK Gupta did not comment on whether any tie-ups were in the offing, but hinted that he had an open mind on the issue.
A real possibility though would be an alliance with Star TV. It appears to be the only private player seriously putting together any plans to start DTH operations. According to published reports Star is willing to put in up to $ 500 million in its DTH project taking on as many as three to four partners. Star is believed to be ready to form some sort of association with VSNL if it makes business sense.
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MUMBAI: In a breather for Dish TV India, JC Flowers Asset Reconstruction has withdrawn its petition before the National Company Law Tribunal seeking directions to convene an extraordinary general meeting.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.
