Dish TV Director Jawahar Lal Goyal resigns

Jawahar Lal Goyal
Weeks after declaring his refusal to seek reappointment, chairman of satellite service provider Dish TV India Jawahar Lal Goel has resigned from his position as a director, effective as of Monday.

Weeks after declaring his refusal to seek reappointment, chairman of satellite service provider Dish TV India Jawahar Lal Goel has resigned from his position as a director, effective as of Monday.

Goel has resigned from the company’s committees and board of directors. As a result, he is no longer the board chairman, according to Dish TV’s regulatory update.

Prior to the company’s annual general meeting (AGM), which will be held on September 26, Goel announced his intention to retire from the board.

Shareholders of the direct-to-home (DTH) provider had voted against Goel’s reappointment at the company’s extraordinary general meeting (EGM) in June.

Goel has remained a non-executive director despite having already resigned from his position.

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Dish TV requested shareholder approval for the reappointment of Goel as managing director (effective from April 1, 2022, to March 31, 2025) in its EGM notification published in May.

Goel had declared his desire to not be reappointed as a director in a regulatory update published by Dish TV on August 31. As a result, Goel will leave his position at the AGM.

Yes Bank, the DTH operator’s biggest stakeholder with a 25.63% stake, is involved in a legal dispute with the company. Goel and Bhagwan Das Narang were among the five Dish TV directors whose dismissal the lender had requested due to alleged bad corporate governance.

Yes Bank had also asked for the board of the business to be reconstituted. Dish TV had stated in its regulatory filing from August that independent director Narang will likewise leave his position on the day of the AGM after serving out his second term.

The promoters owned a 5.93% share in Dish TV, an Essel Group company that was headed by Goel, the brother of Zee group patriarch Subhash Chandra. On the BSE, Dish TV’s share price ended the day up 0.51%, or 9.39%, at Rs 16.77.

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