Dish TV board unanimously agrees not to call an EGM as proposed by Yes Bank

Dish TV on Wednesday said it has rejected the requisition notice by its largest shareholder Yes Bank to hold an extraordinary general meeting (EGM) to reconstitute the board of the direct-to-home player on the technical ground as it requires certain prior approvals.

The board of Dish TV, in a meeting held on Wednesday, “unanimously agreed that the EGM cannot be called, as sought by Yes Bank Ltd vide the requisition notice dated September 21, 2021,” to remove its Managing Director Jawahar Goel along with four other directors, besides others.

Dish TV board was of the opinion that Yes Bank Ltd’s (YBL) proposal requires certain prior steps to be them under the applicable provisions of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.