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Dish TV seeks further time extension to convene AGM

Dish TV today informed the stock exchanges that its Board has made an application with Registrar of Companies (RoC), seeking further extension of time to convene annual general meeting (AGM) till 31 December.

The board of Dish TV has earlier rejected a proposal of Yes Bank Ltd seeking a special shareholders’ meeting for a drastic management change, including sacking the satellite TV operator’s managing director Jawahar Goel.

The board took the unanimous decision that the EGM sought by the private lender cannot be called as the proposal requires certain prior regulatory approvals.

In addition to sacking Goel, the younger brother of Essel Group founder Subhash Chandra, Yes Bank wants shareholders to vote on its proposals to terminate four other directors and induct two Yes Bank executives as nominee directors and five independent directors.

Yes Bank, which owns a 25.63% stake in Dish TV, is peeved with the board on its decision to go ahead with a proposed rights issue, despite the bank’s objections, besides certain investment decisions, including in content platform Watcho.

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