Dish TV Chairman Jawahar Goel resigns from board after long battle with Yes Bank

Dish TV chairman Jawahar Lal Goel resigned from the board of directors of the company on Monday, September 19, the direct-to-home operator said in an exchange filing. The company has not yet made the outcome of voting at the 33rd annual general meeting pending litigations.

The company’s largest shareholder Yes Bank Ltd and the promoter family led by its chairman Goel have been engaged in a legal battle over board representation in Dish TV. Yes Bank owns 24 percent stake in the firm.

In the filing, Dish TV said Goel tendered his resignation from the company’s board and committee/s with effect from the close of business hours of September 19, 2022.

Yes Bank had been pushing for a reconstitution of the board and removal of Goel along with some other persons. On its December 30, 2021, annual general meeting (AGM) shareholders rejected all proposals, including the adoption of financial statements and the reappointment of Ashok Mathai Kurien as director.

The Securities and Exchange Board of India had asked Dish TV to disclose the results of the AGM. In an June extraordinary general meeting, shareholders 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 would 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.

(With inputs from PTI)