Dish TV Appoints 3 Independent Directors

New Delhi, Apr 18 (PTI) Dish TV, a direct-to-home (DTH) service provider, has received shareholders' nod for the appointment of three independent directors to the company's board, according to exchange filings.

The board has approved the appointment of Arun Kumar Kapoor, Heena Naishadh Bhatt, and Ashok Anant Paranjpe for five years, after receiving shareholders' nod through a postal ballot.

As much as 99.49 per cent of shareholders approved the appointments. After approval, the number of directors on the board has increased to six.

Earlier, Dish TV was unable to strengthen its board and have proper representation due to a boardroom tussle among the promoters.

It was subsequently fined by the BSE and the National Stock Exchange over composition and lack of quorum on its board, which was against the SEBI Listing regulations.


Subhash Chandra's family-led promoter and promoter group hold around 4 per cent equity share and were in a tussle with YES Bank over the reconstitution of the board.

YBL, which was earlier Dish TV's largest shareholder, has sold its 24.2 per cent stake in the company to JC Flowers Asset Reconstruction Pvt Ltd.

On a few occasions, Dish TV shareholders rejected the company's proposals to approve the new board appointments at the EGM.

Shareholders rejected several proposals, including the re-appointment of Jawahar Lal Goel as Managing Director in June 2022 and the adoption of financial statements for 2020-21 (Apr-Mar) and 2021-22 in September 2022..

Commenting on the development, DishTV CEO & Executive Director Manoj Dhobhal said, "We are encouraged by the shareholders' approval of the appointment of the Independent Directors and sincerely thank them for their continued trust and confidence. The Board is already benefiting from the Directors' collective experience, which will further sharpen strategic focus and support disciplined execution."