Page 2 - Dish Tv

Subhash Chandra to settle JC Flowers' debt to reclaim Dish TV: Report

Chandra will also get back three properties, one of which is a bungalow in central Delhi

Subhash Chandra moves to get family's stake in Dish TV back from JC Flowers

With JC Flowers ARC's 24.19% stake in the company, Chandra's total holding in the satellite TV operator will rise to 28.2%, if the transaction goes forth

Fresh legal battle brews between Dish TV and lenders on board recast

Lenders, who own a majority stake in the company, have called for removal of the existing two-member board of S Aggarwal and Rashmi Aggarwal

Dish TV board rejects lenders plan to appoint directors, cites lapses

Media tycoon Subhash Chandra's family lost control of Dish TV after promoter entities defaulted on loans

Dish TV's minority shareholders reach out to ministry on EGM delay

The company's minority shareholders are demanding a rejig of the company's board and the appointment of a new management team to put the DTH provider back on the profitability path

Dish TV minority shareholders seek EGM, removal of 2 independent directors

A group of minority shareholders of Dish TV has sent a notice to call an Extraordinary General meeting (EGM) of the direct-to-home service provider, raising concerns over corporate governance issues, seeking reconstitution of the board and removal of two independent directors questioning their independence. The notice sent by 77 shareholders of Dish TV, representing 10.15 per cent shareholding, proposed to nominate K Badri Narayanan, Satis Kumar Yanmandra, Jeet Sen Gupta as independent directors on the board of the Essel Group firm. Besides, it has also sought the removal of two independent directors -- Shankar Aggarwal and Rashmi Aggarwal -- from the board of the company. "The existing independent directors have a long-term association with Dish TV and Essel group which cast doubt over their independence," the shareholders wrote in the notice. Dish TV is embroiled in a tussle between its largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawa

Dish TV Institutional shareholders call for EGM, seek to remove 2 directors

The notice said the Board is acting at the behest of certain minority shareholders holding merely 4 percent stake in the company

Dish TV reports Q4 net loss at Rs 1,720.62 cr, revenue down to Rs 504.8 cr

Direct-to-home firm Dish TV India Ltd has reported a consolidated net loss of Rs 1,720.62 crore for the fourth quarter that ended on March 31, 2023, mainly on account of impairments and deferred tax liability. The company had reported a net loss of Rs 2,031.99 crore in the January-March quarter a year ago, Dish TV said in a BSE filing. Its revenue from the operation was down 21.45 per cent to Rs 504.82 crore during the quarter under review as against Rs 642.70 crore of the corresponding quarter. In the March quarter, Dish TV's loss before exceptional items and tax was at Rs 233.73 crore. Its losses under exceptional items were at Rs 1,907.61 crore. During the quarter, Dish TV has to go for impairment of Rs 280 crore for assets under development, Rs 110.5 crore for brand, Rs 567.87 crore for customer and distribution relationship and Rs 328 crore for property, plant and equipment. Besides it had also an impairment of goodwill of Rs 621.09 crore of its Goodwill and Intangible asset

Dish TV appoints director, sends 4 names for govt nod to strengthen board

Direct-to-Home operator Dish TV on Friday announced the appointment of former bureaucrat Zohra Chatterji as its independent Director. Besides, it has also sent four names to the Ministry of Information and Broadcasting to obtain its prior approval for placing them on the board as directors, as required under the Up-linking Guidelines. This is the first appointment after March 3, when the shareholders of Dish TV rejected special resolutions seeking their approval for the appointment of four new independent directors. The persons are - Rajesh Sahni, Virender Tagra, Girish Srikrishna Paranjpe and Arvind Nachaya Mapangada. Chatterji, who belongs to the 1979 Batch of the IAS of Uttar Pradesh Cadre, retired as Secretary of the Ministry of Textiles in 2014. Dish TV's largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawahar Lal Goel are engaged in a legal battle over the board representation. After being voted out, Dish Tv's four independent direc

Dish TV calls EGM on March 3, seeks nod for appointment of 4 ind directors

Direct-to-Home operator Dish TV will convening an Extraordinary General Meeting (EGM) on March 3 to seek shareholders' approval for the appointment of four new independent directors. The EGM would be held virtually through video conferencing and other audio-visual means, said a notice by Dish TV. Dish TV's largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawahar Lal Goel are engaged in a legal battle over board representation in the company. The four independent directors sought to be appointed are Sunil Kumar Gupta, Madan Mohanlal Verma, Gaurav Gupta and Lalit Behari Singhal. The company's board had announced their appointments in December last year, which was the first major appointment after the departure of its former chairman Jawahar Lal Goel. Earlier on December 30, shareholders of Dish TV had rejected a proposal for adoption of audited standalone and consolidated financial statements for FY21 and FY22 in the AGM. YBL, having over 24

SC sets aside Allahabad HC order refusing to entertain YES Bank's plea

The Supreme Court Tuesday set aside the Allahabad High Court order refusing to entertain the Yes Bank plea challenging police investigation into an FIR lodged by the Essel Group in connection with the bank-Dish TV dispute on pledging of shares. A bench comprising Chief Justice DY Chandrachud and Justices PS Narasimha and JB Pardiwala also directed that its earlier order of November 30, 2021 staying police investigation in the FIR shall remain in operation till the high court has disposed of the Yes Bank's plea against the FIR. The top court remanded the case to the high court for fresh disposal on merits within a period of two months after the receipt of the certified copy of its order. We are of the considered view that the Allahabad High Court was not justified in not dealing with the petition (of Yes Bank) on the ground that the alternative remedy was available under section 451 and 457 of the CrPC (Code of Criminal Procedure). The high court ought to have addressed itself the ..

Dish TV shareholders reject adoption of FY21, FY22 balance sheets in AGM

Shareholders of Dish TV have again rejected the proposal for the adoption of audited standalone and consolidated financial statements for FY21 and FY22 in the AGM held on Thursday. Earlier, the shareholders of the Direct-to-Home service provider had rejected the proposals to approve the balance sheet of the company for the last two fiscals in the 34th AGM conducted on September 26, 2022. 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 per cent share, was pushing for reconstitution of the Dish TV board and removal of Goel along with some other persons. On Thursday, a majority of over 70 per cent shareholders of votes polled in the 35th AGM were against the two resolutions for the adoption of the financial statements. Resolution no 1, which was for the adoption of the financial statement for FY 2021-22 could get only 26.83

Dish TV appoints ex-bureaucrat Lalit Behari Singhal as independent director

Earlier this month, Dish TV had announced the appointment of three new independent directors to the company's board

YES Bank transfers invoked shares of 7 cos including Dish TV to JC Flowers

Yes Bank has transferred invoked shares of seven companies, including Dish TV, Asian Hotels (North) and Avantha Realty, to JC Flowers Asset Reconstruction, which has been assigned to recover debt worth over Rs 48,000 crore of the private sector lender. The invoked equity shares held by Yes Bank aggregating to 44,53,48,990, representing 24.19 per cent of the total share capital of Dish TV India, have now been transferred to JC Flowers Asset Reconstruction Pvt Ltd, the lender said in a regulatory filing on Thursday. The transfer of invoked shares is pursuant to assignment of loans sanctioned by the bank to Essel group companies (in respect of which default is subsisting and pledge on company's shares was invoked by Yes Bank), it added. Besides, it has transferred 14,02,991 shares, representing 7.21 per cent of the total share capital of Asian Hotels (North) to the asset reconstruction company (ARC), the bank said in a separate filing. In the case of Avantha Realty, Yes Bank said it h

Dish TV appoints three independent directors; to convene AGM on December 29

Direct-to-Home operator Dish TV on Tuesday announced the appointment of three new independent directors to the board of the company, which is the first major appointment after the departure of its former promoter-backed chairman Jawahar Lal Goel. Besides, the company also announced the resignation of Rajeev Kumar Dalmia, its executive director, from the board with effect from the close of business hours on Tuesday, Dish TV said in a regulatory filing. However, it also added, Dalmia would "continue to act as Chief Financial Officer of the Company." According to Dish TV, Dalmia has tendered his resignation from the Company's Board of Directors and all other committees. Besides, the board of the company in its meeting on Tuesday also "approved the convening of the adjourned 34th Annual General Meeting" of the company on December 29, 2022. During the AGM, Dish TV would seek approval of shareholders for the appointments of three new independent directors - Sunil Kumar Gupta, Madan Moha

Dish TV, 4 others settle non-disclosure of AGM voting results with Sebi

Direct-to-Home operator Dish TV India Ltd and four others have settled with markets regulator Sebi a case pertaining to alleged non-disclosure of voting results of the company's Annual General Meeting (AGM) held on December 30, 2021. Apart from Dish TV, its promoter Jawahar Lal Goel, group chief executive Anil Kumar Dua, compliance officer Ranjit Singh and Ashok Mathai Kurien, who was the director of the company, settled the case. These five entities have settled the case after collectively paying Rs 65.34 lakh towards settlement amount, the Securities and Exchange Board of India (Sebi) said in an order. This came after the entities proposed Sebi to settle the alleged violations of regulatory norms through a settlement order, "without admitting or denying the findings". Accordingly, Sebi, in its order passed on Monday, stated "the pending enforcement proceedings for the alleged defaults ...are settled qua the applicants." The regulator received complaints alleging that Dish TV, p

Top headlines: Adani's $100-bn green energy push; Saab to produce in India

The group has earmarked 70 per cent of its new investments for energy transition space and infrastructure. "We are already the world's largest solar player, and we intend to do far more

Dish TV stock falls 10% as shareholders reject results, auditor appointment

The shareholders rejected appointments of Rakesh Mohan as an independent director as well as S.N. Dhawan & Co LLP, Chartered Accountants as the auditor of the company

Dish TV shareholders reject 4 resolutions at AGM, board strength down to 2

Adoption of FY21 and FY22 financial statements and new statutory auditors not accepted at AGM

Dish TV nears 52-wk high on Jawahar Goel's resignation; zooms 92% in 1 mth

In the past one month, Dish TV has zoomed 92 per cent as compared to a 1.2 per cent decline in the S&P BSE Sensex