Dish TV Board EGM: Dish TV’s minority shareholders reach out to ministry on EGM delay

The minority shareholders of satellite television company Dish TV India have approached the Ministry of Corporate Affairs against the alleged delay by the company’s board of directors in holding an extraordinary general meeting (EGM), according to a report in The Economic Times. The Dish TV Minority Investors Association has asked the Ministry to take action by instructing the Dish TV Board to immediately call an Extraordinary General Assembly meeting.

On May 15, the Investors Association wrote to the Dish TV Board of Directors to call an Extraordinary General Assembly meeting within the stipulated 21 days. It represents 77 domestic and foreign institutional investors who own 10.15 percent of Dish TV.

The association also asked the ministry to crack down on the directors of Dish TV for their alleged breaches of corporate law. She also called on the ministry to ask its officers to expedite procedures regarding her previous complaints.

The company’s minority shareholders are calling for a reorganization of the company’s board of directors and the appointment of a new management team to put the DTH service provider back on the path to profitability.

Dish TV’s minority investors demanded the appointment of three independent non-executive directors and the firing of two directors, who they claimed, acted to protect the interests of the promoters.

First published: May 25, 2023 | 11:46 a.m ist