Jawahar Goel quits as Dish TV director, will step down at Sept 26 AGM

Yes Bank, which holds 25% in Dish TV, has been pushing for a board revamp, including removal of Goel, Narang and others

Paving the way for Yes Bank to take charge of Dish TV India board, Jawahar Lal Goel has tendered his resignation from Dish TV India's board and has ceased to be the Chairman of the company, the company announced in a notice to the stock exchange. The resignation comes within days of the company announcing that Goel would not seek a reappointment to the board.

The company's annual general meet is scheduled for September 26, where Goel will step down from the board, the company said in a stock market notification on Tuesday. Independent director Bhagwan Das Narang would also vacate office after his term expired, it said.

Yes Bank, which holds about 25 per cent stake in Dish TV, has been pushing for a board reconstitution, including the removal of Goel, Narang and other members, citing corporate governance issues.

The Goels own only 6 per cent stake in the company and have lost control over the company after banks seized the promoter's pledged shares.

Last month, Dish TV had agreed to add a couple of Yes Bank nominees to its board and on August 30 further considered one more nominee from the private lender. These included Girish Paranjpe, Arvindnachya Chandranachya and Haripriya Padmanabhan.