Satellite service provider Dish TV has requested more time to hold the company's 33rd annual general meeting (AGM).
On September 19, Dish TV filed an application seeking more time to convene the AGM which was initially scheduled to take place on September 27.
The company has asked for further extension, seeking time up to December 31 to hold the AGM.
The company in an exchange filing dated October 29 said that it is seeking more time to hold the AGM due to Yes Bank's plea in National Company Law Tribunal (NCLT) regarding holding extraordinary general meeting (EGM) for the ouster of MD and Director Jawahar Lal Goel along with the removal of Rashmi Aggarwal, Bhagwan Das Narang, Shankar Aggarval and Ashok Mathai Kurien. The lender is also seeking appointment of eight new independent directors.
"This is to further inform that the Board of Directors of the Company vide Circular Resolution dated October 29, 2021 have approved making requisite application with Registrar of Companies, Mumbai, as per the applicable provisions of the Companies Act, for seeking further extension of time i.e from November 30, 2021 to December 31, 2021, for convening the Annual General Meeting of the Company for the Financial Year 2020-21, in view of the issues arising out of the pendency of an application filed by Yes Bank Ltd (a shareholder) before the Hon’ble National Company Law Tribunal, Mumbai Bench and in order to ensure compliance of all applicable laws and guidelines in this matter," said Dish TV.
Yes Bank which moved NCLT has sought the tribunal's intervention to direct Dish TV to call for an EGM or provide shareholder details to YES Bank so that they can call the meeting on their own.
NCLT has given time till November 15 to Dish TV to file its reply in a petition filed by YES Bank, the company's largest shareholders.
YES Bank, which holds a 25.63 percent stake in Dish TV, had sent a notice to the company on September 23 to call for an extraordinary general meeting (EGM) seeking changes in Board.