Dish TV’s appointment of independent directors not approved by shareholders
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Accordingly, the special resolutions moved to approve the appointment of independent directors at the online Extraordinary General Meeting (EGM) of the shareholders of the company held on Friday were negated.
DTH service provider Dish TV’s shareholders have overwhelmingly rejected a special resolution seeking approval for the appointment of four new independent directors in the company. The company gave this information to the stock markets on Saturday. Accordingly, the special resolutions moved to approve the appointment of independent directors at the online Extraordinary General Meeting (EGM) of the shareholders of the company held on Friday were negated.
It was proposed to appoint Sunil Kumar Gupta, Madan Mohanlal Verma, Gaurav Gupta and Lalit Bihari Singhal as independent directors on the board of Dish TV. But the shareholders rejected it by more than 74 per cent votes. As per the provisions of the Companies Act, a special resolution is required to be passed by at least 75 per cent votes. Dish TV’s promoter group and largest shareholder Yes Bank have been at loggerheads over board formation for some time now. During this, former chairman Jawahar Lal Goyal also had to be thrown out.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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