Business

Shareholders reject reappointment of Dish TV MD

Shareholders of direct-to-home company Dish TV India Ltd on Friday rejected the special resolutions for the re-appointments of Jawahar Goel as Managing Director (MD) and Anil Dua as Whole-time Director of the company. The appointment of Rajagopal C Venkateish as an independent director of the Essel group entity was also rejected.

However, Goel would remain a non-executive director of the company and Dua the chief executive officer, the company said in a stock exchange filing.

Dish TV shares shot up by 10.66 per cent to Rs 12.04 on the BSE on Friday.

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The rejection for reappointment came amid attempts by the promoter group entity to restrain YES Bank, the largest shareholder, from voting at the EGM. The Bombay HC had on Thursday dismissed World Crest Advisors LLP’s appeal against YES Bank’s voting rights.

According to voting results announced on Friday evening, 78.9 per cent of the shareholders voted against Goel’s re-appointment, 26.10 per cent against Dua’s and 73.25 per cent against Venkateish’s. Dish TV needed 75 per cent of shareholders’ votes in its favour to pass the three resolutions.

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