Dish TV India will submit the voting results of its annual general meeting (AGM) held on Thursday before the Bombay High Court, in compliance with an earlier direction of the court.
As per the court’s direction, the voting outcome would be placed before the court for further directions, Dish TV said in a regulatory filing.
On December 23, the court — hearing a petition filed by World Crest Advisors (a promoter entity of Dish TV) — had directed that the AGM results would be subject to the outcome of the next hearing slated for February 3.
World Crest Advisors had earlier filed an ad interim request before the high court against Yes Bank, stating it is the owner of Dish TV shares held by the lender. While the court rejected the ad interim request, it permitted Yes Bank to vote at the AGM.
Yes Bank, which is the largest shareholder in Dish TV with a 25.6% stake, is embroiled in a legal tangle with the direct-to-home service provider. In a September 3 notice, Yes Bank had sought removal of five directors, including chairman and managing director Jawahar Lal Goel, citing governance issues.
Dish TV said in today’s filing that all directors, except Ashok Kurien, were present at the AGM, which was chaired by Goel and attended by 173 shareholders. The e-voting for the resolutions had commenced on December 26 and closed on December 29.
Independent director and member of the shareholders relationship committee Shankar Aggarwal (on behalf of Ashok Kurien, chairman of stakeholder relationship committee) and chairman of the audit committee Bhagwan Das Narang were among others present at the AGM, it added.
Yes Bank had earlier sought the removal of Kurien and four other directors (Goel, Rashmi Aggarwal, Bhagwan Das Narang and Shankar Aggarwal) accusing them of corporate governance issues.
The resolutions that came up for voting at the AGM were adoption of financial statements for FY21, re-appointment of Kurien as a director and remuneration to the auditors.
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