Dish TV India Ltd. has disclosed the results of its annual general meeting, held on Dec. 30, after SEBI's order directing it to do so.
All three resolutions put to shareholder vote by the company have been defeated, according to its exchange filing.
At the controversial AGM held in December, the company's shareholders voted on three resolutions:
Adoption of annual audited financial statements—77.63% of votes cast were against this resolution.
Re-appointment of Ashok Mathai Kurien, a director liable to retire by rotation—78.94% votes went against this proposal.
Ratification of remuneration of cost auditors for financial year 2021–22—53.48% of votes cast were against this resolution.
All three resolutions were ordinary resolutions and backed by the promoter. But the Goel family stake has shrunk to under 6% in recent times, amounting to very few votes in favour.
Over 80% of public institutional votes were cast and cast overwhelmingly against all three resolutions. Public non-institutional votes also went against the first two resolutions.
The battle over the disclosure of the AGM voting outcome is a part of a larger fight between Yes Bank and Dish TV, in which the lender-turned-shareholder had sought to reconstitute the company's board on governance concerns and also filed a mismanagement suit. Dish TV has fought back by repeatedly seeking to freeze Yes Bank's voting rights and dispute their ownership.
On Monday, the Securities and Exchange Board of India had passed an ex-parte interim order directing Dish TV to declare the results within 24 hours.
Also Read: Dish TV To Disclose AGM Results, Orders SEBI
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