Dish TV Managing Director Jawahar Goel has stepped down from the put up after the shareholders of the DTH operator rejected the proposal to reappoint him within the extraordinary common assembly.
“The proposal for reappointment of Jawahar Lal Goel as Managing Director of the corporate has not obtained requisite majority on the EGM held on June 24, 2022,” mentioned Dish TV in a regulatory submitting.
Nonetheless, Goel “continues as a Non-Government Director”, the regulatory submitting mentioned.
“We want to inform you that on the premise of the votes forged by the shareholders on the EEGM of firm held on June 24, 2022”, Jawahar Lal Goel “vacates the workplace of Managing Director of the corporate,” mentioned the corporate.
Furthermore, the proposal to reappoint Anil Kumar Dua as a whole-time director of the corporate and appointment of its former chief govt officer Rajagopal Chakravarthi Venkatesh as a non-executive impartial director have “not obtained requisite majority on the EGM held immediately.”
Following this “Anil Kumar Dua vacates the workplace of the Entire Time Director of the corporate. He continues as Chief Government Officer of the corporate.”
In addition to, “R C Venkateish vacates workplace of Director of the corporate,” it added.
Dish TV on Friday held the EGM of the fairness shareholders by way of video conferencing and different audio-visual means.
Final month, Direct-to-home agency Dish TV India reported widening of its consolidated internet loss to Rs. 2,031 crore for the fourth quarter led to March 2022 on account of outstanding gadgets which embody impairment costs.
The corporate had reported a internet lack of Rs 1,415 crore within the January-March quarter a yr in the past, DishTV mentioned in a BSE submitting.
Its income from operations was down 14.50 p.c to Rs. 642 crore throughout the quarter below evaluation as towards Rs. 751 crore of the corresponding quarter.
“EBITDA for the quarter was Rs. 352 crore. Revenue earlier than distinctive gadgets and tax was Rs. 41 crore as towards a lack of Rs 199 crore within the fourth quarter final fiscal,” it mentioned.