Dish TV settles case with SEBI for listing rules violation, pays Rs 11.72 lakh

Dish TV India Ltd has settled a case with the Securities and Exchange Board of India (SEBI) for alleged listing rule violations by paying Rs 11.72 lakh, without admitting or denying guilt. The proceedings were triggered by SEBI’s finding that the company failed to obtain shareholders’ prior approval for the continuation of Jawahar Lal Goel as a non-executive director between June 25 and September 19, 2022, after shareholders had rejected his reappointment as managing director, a violation of Regulation 7(1C) of the LODR norms.

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SEBI had issued a show-cause notice to the company on January 17, 2025 under Section 15HB of the SEBI Act, asking why an inquiry and penalty should not be imposed for the alleged breach. During the pendency of the proceedings, Dish TV filed a settlement application seeking to resolve the matter without admitting or denying the findings.

An Internal Committee recommended a settlement amount of Rs 11.72 lakh, which was subsequently endorsed by the High-Powered Advisory Committee and approved by SEBI’s Panel of Whole-Time Members. The adjudicating officer, Sudeep Mishra, noted in the order that “the amount proposed by the Applicant was consistent with the amount communicated by the IC, therefore, the case was recommended for settlement.”