Dish TV shareholders reject 4 resolutions including adoption of financial statements for FY21 & FY22

New Delhi: Shareholders of direct-to-home service provider Dish TV have rejected four resolutions, including adoption of the company's financial statements for FY21 and FY22 and appointment of independent director Rakesh Mohan, according to a regulatory filing.

The company had sought approvals from the shareholders for six resolutions at its annual general meeting held on September 26, out of which the ratification of remuneration of cost auditors for financial years 2021-22 and 2022-23 were approved.

The shareholders rejected the ordinary resolution for adoption of the audited standalone and consolidated financial statements and report of the board of directors and auditors for the 2020-21 with 84.54 per cent voting against it, Dish TV said in a regulatory filing.

Similarly, the adoption of the audited standalone and consolidated financial statements and report of the board of directors and auditors for 2021-22 was also rejected by the shareholders with 77.08 per cent votes against the ordinary resolution.

As per the filing, the shareholders also shot down the proposal for appointment of SN Dhawan & Co LLP as statutory auditor of the company in place of Walker Chandiok & Co LLP, the retiring statutory auditor, with 73.73 per cent voting against it.

A special resolution for the appointment of Rakesh Mohan as a non-executive independent director was rejected with 76.87 per cent votes against it, the filing said.

Rakesh Mohan is a former bureaucrat and had worked as Joint Secretary in the Ministry of Information and Broadcasting in the Government of India. He was also Principal Secretary (Education) in Delhi Administration.

On the other hand, two ordinary resolutions for the ratification of remuneration of cost auditors for financial year 2021-22 and 2022-23 were approved with 86.04 per cent and 86.27 per cent votes in favour respectively, it added.

Dish TV shareholders in its last AGM also, which was held on December 30, 2021, had rejected all three proposals, including the adoption of financial statements and the reappointment of Ashok Mathai Kurien as director.

Earlier this month, its chairman Jawahar Lal Goel had resigned from the board of the company.

The company's largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its chairman Jawahar Lal Goel were engaged in a legal battle over board representation in Dish TV.

YBL, having over 24 per cent share, was pushing for reconstitution of the Dish TV board and removal of Goel along with some other persons.

Dish TV had not declared the outcome of voting at its 33rd AGM due to the ongoing litigations. It was later directed to disclose the results by the capital markets regulator Sebi.

Earlier in June, the shareholders in an extraordinary general meeting had rejected the proposal for reappointment of Goel as managing director and Anil Kumar Dua as a whole-time director of the company, following which both had to vacate their offices.

On August 30, Dish TV, in a regulatory filing, said its chairman Jawahar Lal Goel will vacate his position at the company's upcoming AGM on September 26, 2022.

Goel has not re-applied for continuation as chairman, it had said.