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Shareholders of Dish TV have again rejected the proposal for 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. Shareholders had also rejected approving the adoption of financial statements in December 2021 as well.
Dish TV’s largest shareholder YES Bank Ltd and the promoter family, led by its former Chairman Jawahar Lal Goel, were engaged in a legal battle over board representation in the company.
YES Bank, 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 votes polled in the AGM were against the two resolutions.
Resolution no 1, which was for the adoption of the financial statement for FY22, could get only 26.83 per cent votes of the total polled, while 73.17 voted against it.
Similarly, resolution no 2, which was for the adoption of the financial statement for FY21 could get 23.13 per cent votes in favour and 76.86 per cent votes against it.
“Based on the above, Resolution Nos. 1 and 2 have failed to obtain the requisite number of votes in favour by the shareholders under remote e-voting and electronic voting at the Adjourned AGM and the number of votes against these Resolutions are more than those in favour,” said the scrutinises report shared on the BSE on Thursday evening.
Earlier, in the 34th AGM, after the annual financial statements of Dish TV for FY 21 and FY22 were not adopted by the shareholders, the AGM was adjourned sine die.
Earlier in June this year, shareholders in an extraordinary general meeting had ousted promoter Jawahar Goel as the company’s managing director. Goel resigned from the board of the company on September 19.
In September, shareholders of Dish TV rejected four resolutions in the AGM, including the adoption of the company’s financial statements for FY21 and FY22, and the appointment of independent director Rakesh Mohan.
Dish TV shareholders, on December 30, 2021, also rejected all three proposals, including the adoption of financial statements and the reappointment of Ashok Mathai Kurien as director.
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