MUMBAI: The shareholders of Direct-to-Home operator Dish TV rejected the proposal for the adoption of audited standalone and consolidated financial statements for 2020-21 and 2021-22 in its Annual General Meeting (AGM) held on Thursday, with over 70% shareholders voting against the resolutions.
“Based on the above, Resolution Nos. 1 and 2 have failed to obtain the requisite number of votes in favour by the shareholders under remote e-voting and electronic voting at the Adjourned AGM and the number of votes against these Resolutions are more than those in favour,” said the scruitinisers report shared by the company on the BSE.
Dish TV’s largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawahar Lal Goel were engaged in a legal battle over board representation in the company. YBL, having over 24 percent share, was pushing for reconstitution of the Dish TV board and removal of Goel along with some other persons.
The shareholders had earlier rejected the proposal in the AGM on September 26 with 84.5 percent voting against it. The meeting was thus adjourned sine die. The company will announce the date of its Board Meeting soon. “The date of Board Meeting for declaration of the Unaudited Financial Results of the Company for the third Quarter (Q3) ended on December 31, 2022 will be intimated in due course,” said the company in a statement.