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Dish TV board proposes appointment of nominee director

Dish TV board has also asked the management to file the necessary application with the Ministry of Information and Broadcasting for obtaining its approval under the up-linking guidelines. (Mint)Premium
Dish TV board has also asked the management to file the necessary application with the Ministry of Information and Broadcasting for obtaining its approval under the up-linking guidelines. (Mint)

  • Monday, shareholders of the satellite service provider had rejected all the three resolutions tabled by the company, including the adoption of financial statements, reappointment of a director, and remuneration of auditors

The board of Dish TV India has proposed the appointment of Rajagopal Chakravarthi Venkateish as a nominee director on its board, days after the shareholders voted against the re-appointment of Ashok Kurien as director, it informed the stock exchanges on Friday.

The board has also asked the management to file necessary applications with the ministry of information and broadcasting to get an approval under the up-linking guidelines for inducting board members, it added.

The Dish TV board has five directors, including two executive directors, chairman Jawahar Goel and chief executive officer Anil Dua. B.D. Narang, Rashmi Aggarwal, and Shankar Aggarwal are serving as independent directors. Goel’s and Dua’s terms will end later this month, while Narang is set to retire before the company’s next annual general meeting.

According to Securities and Exchange Board of India (Sebi) rules, a company with 1,000 crore-plus revenues must have at least six directors.

On Monday, shareholders had rejected all three resolutions, including the adoption of financial statements, reappointment of a director, and remuneration for auditors, after Dish disclosed the voting result of its shareholder meeting held on 30 December following a Sebi ultimatum.

ABOUT THE AUTHOR

Gopika Gopakumar

Gopika Gopakumar has worked for over 15 years as a banking journalist across print and television media. Her expertise lies in breaking big corporate stories and producing news based TV shows. She was part of the 2013 IMF Journalism Fellowship Program where she covered the Annual & Spring meetings of the International Monetary Fund in Washington D.C. She started her career with CNBC-TV18, where she also produced a news feature show called Indianomics and an award winning show on business stories from South India called Up South. She joined Mint in 2016.
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