Active Stocks
Mon Apr 22 2024 15:57:16
  1. Tata Steel share price
  2. 161.85 -0.15%
  1. HDFC Bank share price
  2. 1,512.30 -1.24%
  1. State Bank Of India share price
  2. 765.85 2.00%
  1. ICICI Bank share price
  2. 1,087.00 1.93%
  1. Wipro share price
  2. 461.95 2.01%
Business News/ Companies / People/  Dish TV Chairman Jawahar Lal Goel steps down from the board
BackBack

Dish TV Chairman Jawahar Lal Goel steps down from the board

Jawahar Lal Goel shall cease to be chairman of Dish TV at close of business hours on 19 September

Dish TV Chairman Jawahar Lal Goel has tendered his resignation from the company board.Premium
Dish TV Chairman Jawahar Lal Goel has tendered his resignation from the company board.

Jawahar Lal Goel, the Chairman of broadcast satellite service provider Dish TV, on Monday stepped down from the company's board, signalling a win for top shareholder Yes Bank in its push for a board overhaul.

Goel had earlier agreed to step down from the board on 1 September.

“…we wish to inform you that Mr Jawahar Lal Goel (DIN : 00076462), Director of the Company, vide his letter dated September 19, 2022, has tendered his resignation from the Board of Directors of the Company and committee(s) thereof with effect from the close of business hours of September 19, 2022," Dish TV said in a BSE filing. 

'Dish TV faced challenges on corporate & biz front'

Recently, Dish TV Group CEO Anil Kumar Dua said that FY22 was "not the smoothest year" for the company and it faced "challenges, both on the corporate and business front".

While addressing shareholders of the company, Dua said, "Notwithstanding difficulties, the company continued to keep up with the times and remains optimistic about its capabilities to stay as one of the most relevant players in the content delivery space in India."

Its largest shareholder Yes Bank Ltd (YBL) and the promoter family led by Goel were locked in a legal battle over board representation in Dish TV.

YBL, having over 24% share, was pushing for reconstitution of the Dish TV board and removal of Goel along with some other persons.

Earlier in June this year, the shareholders in an Extraordinary General Meeting (EGM) had rejected the proposal for reappointment of Goel as managing director and Dua as a whole-time director of the company, following which both had to vacate their office.

On 30 August, Dish TV in a regulatory filing said its chairman Goel will vacate his position at the company's upcoming AGM on 26 September, 2022.

Goel, whose proposal for reappointment as managing director was rejected by the shareholders in the EGM in June this year, has not reapplied for continuation as chairman.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 19 Sep 2022, 02:55 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App