Chairman of Dish TV resigns from the board

20 Sep 2022 , 08:20 AM

Dish TV, a provider of broadcast satellite services, said on Monday that its Chairman Jawahar Lal Goel had resigned from the board of the business. This could be considered a victory for leading shareholder Yes Bank, which had been reportedly pushing for a board shakeup.

With regards to corporate governance issues and claims that the board was “purportedly acting at the request of certain minority shareholders,” Yes Bank, which owns around a 25% interest in Dish TV, has been pushing for a board reconstitution, including the resignation of Goel, Narang, and other members.

In a stock exchange statement, the company stated, “…we desire to tell you that Mr. Jawahar Lal Goel, Director of the Company, has tendered his resignation from the Board of Directors of the Company and committee(s) thereof with effect from the close of business hours of September 19, 2022.”

The business had previously stated that Goel would not seek re-appointment to its board and that independent director Bhagwan Das Narang would leave his position when his term ended.

Early in August, Dish decided to appoint a few of Yes Bank’s nominees to its board, and on August 30, the company gave one more candidate from the private lender additional consideration.

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