Dish TV Managing Director Jawahar Goel steps down
Premium- Shareholders of the DTH operator rejected the proposal to reappoint Goel in the extraordinary general meeting
NEW DELHI : On Friday, the shareholders at DTH operating service company Dish TV rejected a proposal to reappoint Managing Director Jawahar Goel, following which, Goel stepped down from the post.
The decision was taken at an Extraordinary general meeting. However, Goel "continues as a Non-Executive Director", the regulatory filing said.
Goel, the younger brother of Essel Group founder Subhash Chandra, owns 5.93%.
"The proposal for reappointment of Jawahar Lal Goel as Managing Director of the company has not received requisite majority at the EGM held on June 24, 2022," said Dish TV in a regulatory filing.
"We wish to inform you that on the basis of the votes cast by the shareholders at the EEGM of Company held on June 24, 2022", Jawahar Lal Goel "vacates the office of Managing Director of the Company," said Dish TV.
According to the Securities and Exchange Board of India’s rules, resolution for appointment of a director has to be approved by 75% of shareholders within three months.
“It is the second time when Dish TV could see shareholders rejecting the resolutions," said a company executive requesting anonymity. In December 2021, shareholders had unanimously rejected the three proposals by Dish TV.
Besides Goel and Dua, Dish TV’s five-member board comprises independent directors B.D. Narang, Rashmi Aggarwal and Shankar Aggarwal.
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Moreover, the proposal to reappoint Anil Kumar Dua as a whole-time director of the company and appointment of its former chief executive officer Rajagopal Chakravarthi Venkatesh as a non-executive independent director have "not received requisite majority at the EGM held on June 24, 2022."
Following this "Anil Kumar Dua vacates the office of the Whole Time Director of the Company. He continues as Chief Executive Officer of the Company," said Dish TV.
Besides, R C Venkateish vacates office of Director of the Company," it added.
Dish TV on Friday held the EGM of the equity shareholders through video conferencing and other audio-visual means.