Yes Bank, the largest shareholder of Dish TV India, has asked the satellite television service provider to hold an extraordinary general meeting (EGM) of shareholders and act on its recommendations to reconstitute the company’s board. 

This follows Dish TV postponing the annual general meeting (AGM) that was scheduled on September 27. No new dates have been communicated yet. 

According to Yes Bank, the extension is based on “unfounded reasons”, and Dish TV is engaging in “dilatory tactics” in placing the resolutions to remove its Managing Director Jawahar Goel, along with four other directors. 

The Essel Group’s direct-to-home (DTH) service provider had last week sought an extension, citing time required for any change in the CEO or the board of directors of the company, as it needed the approval of the Ministry of Information and Broadcasting. 

Dish TV on Thursday said that it had received a communication from Yes Bank to call for an EGM of the shareholders of the company. 

“The company has received a letter titled, Requisition for Calling an Extraordinary General Meeting of the Shareholders of Dish TV India, from Yes Bank, dated September 21, 2021. The said notice was received by the company on email after our above-referred intimation,” said Dish TV in a regulatory update. 

Yes Bank holds 47.19 crore equity shares of the company, representing 25.63 per cent of the company. 

According to Yes Bank, instead of placing the resolutions before the shareholders of the company at the AGM, which was to be held on September 27, 2021, Dish TV is now seeking an extension of the date of holding AGM based on “unfounded reasons”.