 "Dish TV")
Direct-to-home player Dish TV, which is part of the Essel group, said on Tuesday that it had appointed three new independent directors on its board. The three are: Sunil Kumar Gupta, Madan Mohanlal Verma and Gaurav Gupta.
This is the first major appointment on Dish TV's board after founder-chairman Jawahar Goel stepped down from his position in September.
The company also announced the resignation of executive director Rajeev Kumar Dalmia from the board, adding that he would continue as the company's chief financial officer.
Besides, Dish TV would convene the adjourned 34th Annual General Meeting of the company on December 29, where it would seek shareholder approval for the appointment of the three new independent directors, it said.
On September 26, Dish TV had convened its 34th AGM, where shareholders had rejected four of the six resolutions put to vote. This had come amid the dispute between Yes Bank, the largest shareholder in the company, and the promoters of Dish TV over the reconstitution of the firm's board.
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Among the resolutions that were not approved by shareholders during the AGM included the adoption of FY21 and FY22 financial statements and new statutory auditors S N Dhawan & Co. Shareholders had also rejected the appointment of independent director Rakesh Mohan to the company's board.
Yes Bank has nearly 25 per cent stake in the company, while Dish TV promoters, the Goel family, hold around 6 per cent in the company. Yes Bank had been pushing for the removal of Jawahar Goel, independent director Bhagwan Das Narang and other members, citing corporate governance issues.
In August, Dish TV had agreed to add a couple of Yes Bank nominees to its board. One more nominee was added to the list soon after by the private-sector lender. These included Girish Paranjpe, Arvindnachya Chandranachya and Haripriya Padmanabhan.
