Investors have ousted a record 25 directors from the Dish TV board in a little over three years, including two on Thursday, as the company continues to reject shareholder demand for a special meeting.
Every three months, Dish TV names new directors to maintain the mandatory minimum boardroom strength of three, only for the shareholders to reject their candidature.
Though there is no explicit violation of any rule, the stalemate holds the potential to hurt company operations and shareholder value.
In August, shareholders also rejected a resolution seeking their approval to raise ₹1,000 crore debt, apart from rejecting resolutions to adopt the company's financial statements multiple times in 2022.
Public shareholders, who collectively own just under 96% of the company, are unhappy with Dish TV's promoters and are seeking an extraordinary general meeting to reconstitute its board. However, promoters holding 4.04% stake have not given in to this demand for over three years now.
This story is from the December 14, 2024 edition of Mint Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 14, 2024 edition of Mint Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
The lessons in long walks and reading
AVP's head on mentorship and taking Ayurveda to a wider audience
How Employees Can Thrive in a Chaotic Workplace
From embracing procrastination to more silence, a paradoxical mindset can help one thrive in a 'BANI' world
Can more time off help people destress?
Last month, home beauty services start-up YesMadam, in a social media post, announced the layoff of 100 employees who confessed to \"being stressed\" in an internal survey.
KlarifyLife by HDFC Life explores ambition, risk and success with Zouk and The Souled Store
Unlocking entrepreneurial journeys, financial insights and growth stories—as well as discussing what it takes to win over Indian consumers in the D2C landscape—with Disha Singh, co-founder of Zouk, and Harsh Lal, co-founder of The Souled Store
TikTok's founder Zhang has a formula for everything. Can it crack the Supreme Court?
As the court weighs a ban on the video-sharing app in the US, no one has more to lose than Zhang Yiming
Warren Buffett prepares his middle child for the job of a lifetime
At Berkshire, Buffett has long said he wants his middle child, Howie, to succeed him as non-executive chairman
A bond selloff is rocking the world. You might want to take the other side.
Wall Street is really worried about bonds. It might be time to buy some.
Adani to invest in Chhattisgarh biz
Industrialist Gautam Adani on Sunday called on Chhattisgarh chief minister Vishnu Deo Sai and announced an investment of ₹65,000 crore in the Adani Group's energy and cement projects in the state, officials said.
India's coal imports rise 2% in Apr-Nov
India's coal imports rose 2% to 182.02 million tonnes in the April-November period of the current fiscal year.
IBREL-Embassy merger approved
In a major relief to Indiabulls Real Estate (IBREL) and Embassy Group, the appellate tribunal National Company Law Appellate Tribunal (NCLAT) has sanctioned the scheme of amalgamation to merge both the real estate firms after setting aside the National Company Law Tribunal (NCLT) order stalling the process.
