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Dish TV’s board has once again rejected the minority shareholders’ request for an Extraordinary General Meeting (EGM).
According to a Dish spokesperson, quoted by the Economic Times on Wednesday, only 6.5 percent of shareholders submitted valid requisition notices, falling short of the required 10 percent threshold for calling an EGM.
The board cited numerical and procedural issues as the reasons for denying the EGM. Specifically, they discarded 52 original requisition notices because they were photocopies and not the original copies.
Dish spokesperson Rajeev K Dalmia informed ET that they have been in touch with the minority shareholders through their law firm, Vis Legis Law Practice in Mumbai, to address the problem of invalid requisition notices.
The minority shareholders had sought an EGM to remove two independent directors from the board, Shankar Aggarwal and Rashmi Aggarwal, due to their affiliations with the Essel Group.
The shareholders raised concerns about the independence of these directors, given their longstanding associations with Dish TV and the Essel Group.
