Yes Bank has demanded that the directors and the CEO of Dish TV be fired

Yes Bank

Dish TV reported in a regulatory filing on September 6 that Yes Bank, which owns a significant investment in the company, had written to the company requesting the dismissal of its directors and managing director.Dish TV received a special notice from the private lender on September 3, 2021, asking the removal of directors under Section 169 of the Companies Act, 2013.Dr Rashmi Aggarwal, Shankar Aggarwal, Ashok Mathai Kurien, and Bhagwan Das Narang were named as directors, and Jawahar Lal Goel was named as managing director, according to the notification.Goel will also "cease to be the chairperson of the firm" as a result of his dismissal as MD, according to the bank.

Yes Bank, which owns a 25.63 percent ownership in Dish TV, has requested the business to consider removing Directors and the CEO during the firm's 33rd annual general meeting on September 27, 2021."The Board is not acting in line with good corporate governance standards and is not a fair representation of the incumbent significant shareholders of the Company being various banks and financial institutions holding about 45% shareholding in the Company," it mentioned in the notice.

The bank has also spoken out against Dish TV's plan to raise Rs 1,000 crore through a rights issue."The present board of directors of the Company ("Board") has approved a rights issue process, pending objections raised with the Board by the Bank time and again, solely to dilute the shareholding of the Bank and to prejudice the interests of inter alia the Bank which is the single largest shareholder of the Company as of date," Yes Bank said.

In a regulatory filing, Dish TV stated that it is reviewing Yes Bank's request for the removal of directors."The Company is further examining the above-mentioned Special Notices for any approvals that may be required, including the steps to be taken to get the candidature of proposed new Directors cleared from the necessary Authority, namely the Ministry of Information and Broadcasting, as prior approval from the Authority is a mandatory requirement," it added.

Source: Link



T20 World Cup: Sanjay Manjrekar chose Varun Chakaravarthy over R Ashwin and his son India as XI for the game against Pakistan

Prior to the start of the T20 World Cup in India, former Indian cricketer and commentator Sanjay Manjrekar shared his eleventh game for Virat Kohli...

England VS West Indies Highlights T20 World Cup: England beats West Indies by 6 wickets

England beat West Indies, by 6 wickets in the Dubai international stadium on Saturday. A glorious victory came to England after the beginning of the t...

States & UTs

In Jammu & Kashmir:- Amit Shah inaugurates the new IIT Jammu campus

Union Home Secretary Amit Shah, who is on a three-day visit to Jammu and Kashmir, on Sunday inaugurated a new campus at the Indian Institute of Techno...

Around 700 people have been detected ahead of Amit Shah’s visit.

Srinagar: due to the result of the Post-Civilian killings and in the days running up regarding the visit of Union Minister Amit Shah in Srinagar durin...


Why did the farmers' union decide to suspend Yogendra Yadav for a month?

The activist, who's a member of the Samyukt Kisan Morcha, has been requested now not to take par...

Yogi Adityanath: Umar Khalid’s father hatching conspiracy with Akhilesh

Uttar Pradesh Chief Minister Yogi Adityanath on Thursday, 21 October, commented on a latest assembly...


Akshay Kumar, channels lord Shiva in OMG2 posters, says: ‘Need your blessings and wishes’

Bollywood actor Akshay Kumar has unveiled two posters of his upcoming film “OMG: 2”, and...

Mumbai: Cinema halls, auditoriums, amusement parks to reopen today

After reopening the faculties and colleges, the Maharashtra authorities are prepared to permit the c...


The Live Newz is an independent, budding and online news portal that came into existence recently. Our mission is to create and deliver the finest news for the readers. We act as a cutting-edge platform that provides the users with every update on recent happenings. We aspire to be true to the journalistic values and maintain the standard of its excellence by presenting the truth to the readers.