The minority shareholders, holding a 10.15% stake, have mandated law firm Vis Legis Law Practice to ask the board to call an extraordinary general meeting (EGM) for appointment of three non-executive independent directors and removal of two directors who, they allege, are working to protect the interests of the promoters.
Dish TV promoter Jawahar Goel and his family holds 4.04% stake in the company as of March 2023.
They have proposed appointment of K Badri Narayanan, Satish Kumar Yanmandra, and Jeet Sen Gupta as nonexecutive independent directors. They have also called for the removal of Shankar Aggarwal and Rashmi Aggarwal as directors. “They have a 21-day timeline to hold the board meeting,” said Rahul Hingmire, spokesperson for Dish TV Minority Shareholders, who is also Founder and Partner at Vis Legis Law Practice.
In a regulatory filing, Dish TV said it is examining the communication and will take necessary steps as per applicable law and procedures.
A Dish TV spokesperson denied that the company is dire condition. Hingmire, however, said the EGM has been sought to highlight concerns like questionable investments by the company in the OTT business Watcho. “This has been flagged by the auditors also.”
