Dish TV Managing Director Jawahar Goel has stepped down from the publish after the shareholders of the DTH operator rejected the proposal to reappoint him.
“The proposal for reappointment of Jawahar Lal Goel as Managing Director of the Company has not received requisite majority at the EGM held on June 24, 2022,” stated Dish TV in a regulatory submitting.
However, Goel “continues as a Non-Executive Director,” the regulatory submitting added.”We want to inform you that on the idea of the votes forged by the shareholders on the EEGM of Company held on June 24, 2022″, Jawahar Lal Goel “vacates the office of Managing Director of the Company,” stated Dish TV.
Moreover, the proposal to reappoint Anil Kumar Dua as a whole-time director of the corporate and appointment of its former chief government officer Rajagopal Chakravarthi Venkateish as a non-executive unbiased director has additionally “not received requisite majority at the EGM held on June 24, 2022.” Following this, “Anil Kumar Dua vacates the office of the Whole Time Director of the Company. He continues as Chief Executive Officer of the Company,” stated Dish TV.
Dish TV on Friday held the extraordinary common assembly (EGM) of shareholders by video conferencing and different audio-visual means.
As per the EGM discover, shareholders needed to take into account the re-appointment of Jawahar Lal Goel because the Managing Director of the corporate for the interval from April 1, 2022, to March 31, 2025. It was additionally alleged to take up the proposal to reappoint Anil Kumar Dua as a whole-time director of the corporate.
In addition to that, the EGM would take into account the appointment of its former chief government officer RC Venkateish as a non-executive unbiased director.
This is a victory for the non-public sector lender Yes Bank Ltd, which owns over 24 per cent share within the Essel group DTH firm.
Yes Bank Ltd (YBL) and the promoter household led by Dish TV chairman and managing director Jawahar Goel are locked in a authorized battle over board illustration on Dish TV.
On Friday, a division bench of the Bombay High Court had dismissed the petition filed by Dish TV’s promoter group agency, looking for to restrain Yes Bank from voting on the DTH operator’s extraordinary common assembly.
Promoter group entity World Crest Advisors LLP had earlier challenged the June 17 order handed by the one bench of the High Court — which didn’t give the ad-interim aid to it pending listening to and last disposal of the go well with — to restrain Yes Bank from voting on the EGM of Dish TV scheduled to be held on June 24, 2022.
Last 12 months, Yes Bank had moved a proposal for EGM and had sought to take away 4 administrators from the board of Dish TV apart from Jawahar Goel. However, the request to name EGM was rejected by the board of the corporate.
Earlier, shareholders of Dish TV had rejected all three proposals, together with the adoption of monetary statements and reappointment of Ashok Mathai Kurien as director, at its AGM held on December 30, 2021.
The bone of rivalry between Yes Bank and Dish TV is Rs 1,000 crore proper points by the group agency.
Source: www.financialexpress.com”