Dish TV’s Jawahar Lal Goel resigns as director | The Financial Express

Dish TV’s Jawahar Lal Goel resigns as director

Goel has resigned from the company’s board of directors and committees.

Dish TV’s Jawahar Lal Goel resigns as director
Dish TV, an Essel Group firm, was being run by Goel, Zee group patriarch Subhash Chandra’s brother, with the promoters holding a 5.93% stake in the firm.

Satellite service provider Dish TV India’s chairman Jawahar Lal Goel has resigned as a director effective Monday, weeks after he had expressed his unwillingness to seek reappointment.

Goel has resigned from the company’s board of directors and committees. Consequently, he ceases to be the chairman of the board, Dish TV said in a regulatory update.

His resignation comes ahead of the company’s annual general meeting (AGM) on September 26, when Goel was slated to step down from the board.

At the extraordinary general meeting (EGM) of the direct-to-home (DTH) service provider in June, shareholders had rejected the proposal for Goel’s reappointment. Goel, who had since relinquished his post, had continued as a non-executive director.

In its EGM notice issued in May, Dish TV had sought shareholders’ approval to reappoint Goel as managing director (effective from April 1, 2022, to March 31, 2025) and re-appointment of certain other directors. On August 31, Dish TV had said in a regulatory update that Goel would vacate his office at the AGM, having expressed his unwillingness for reappointment as a director.

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Yes Bank, which is the largest shareholder in Dish TV with a 25.63% stake, has been embroiled in a legal tangle with the DTH operator. The lender had sought the removal of five Dish TV directors, including Goel and Bhagwan Das Narang, accusing them of corporate governance issues. Yes Bank had also sought reconstitution of the company’s board. In its regulatory filing in August, Dish TV had said that Narang, an independent director, would also vacate his office on the day of the AGM, following completion of his second term.

Dish TV, an Essel Group firm, was being run by Goel, Zee group patriarch Subhash Chandra’s brother, with the promoters holding a 5.93% stake in the firm. Dish TV’s share prices closed up 9.39% at Rs 16.77 on the BSE, which ended up 0.51% on Monday.

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