Dish TV Managing Director Jawahar Goel has stepped down from the post after the shareholders of the DTH operator rejected the proposal to reappoint him in the extraordinary general meeting.
“The proposal for reappointment of Jawahar Lal Goel as Managing Director of the company has not received requisite majority at the EGM held on June 24, 2022,” said Dish TV in a regulatory filing.
However, Goel “continues as a Non-Executive Director”, the regulatory filing said.
“We wish to inform you that on the basis of the votes cast by the shareholders at the EEGM of company held on June 24, 2022”, Jawahar Lal Goel “vacates the office of Managing Director of the company,” said the company.
Moreover, the proposal to reappoint Anil Kumar Dua as a whole-time director of the company and appointment of its former chief executive officer Rajagopal Chakravarthi Venkatesh as a non-executive independent director have “not received requisite majority at the EGM held today.”
Following this “Anil Kumar Dua vacates the office of the Whole Time Director of the company. He continues as Chief Executive Officer of the company.”
Besides, “R C Venkateish vacates office of Director of the company,” it added.
Dish TV on Friday held the EGM of the equity shareholders through video conferencing and other audio-visual means.
Last month, Direct-to-home firm Dish TV India reported widening of its consolidated net loss to Rs. 2,031 crore for the fourth quarter ended in March 2022 on account of exceptional items which include impairment charges.
The company had reported a net loss of Rs 1,415 crore in the January-March quarter a year ago, DishTV said in a BSE filing.
Its revenue from operations was down 14.50 percent to Rs. 642 crore during the quarter under review as against Rs. 751 crore of the corresponding quarter.
“EBITDA for the quarter was Rs. 352 crore. Profit before exceptional items and tax was Rs. 41 crore as against a loss of Rs 199 crore in the fourth quarter last fiscal,” it said.