By Malvika Gurung
Investing.com — In a move that further consolidates the private lender Yes Bank’s push for board reconstitution of the satellite television provider Dish TV (NS:), the latter company’s Chairman Jawahar Lal Goel has resigned from his position, as per a BSE filing on Sept 19. Shares of Dish TV rallied 10%.
As stated at the company’s extraordinary general meeting, Jawahar Lal Goel had agreed to resign as Dish TV’s Chairman ahead of the company’s upcoming annual general meeting on Sept 26, after over 75% shareholders of the company voted against the reappointment of Goel as the Managing Director of the Board.
As per Dish TV’s stock filing, Jawahar Lal Goel has resigned as the company’s Director, w.e.f., Sept 19, 2022, while the independent director Bhagwan Das Narang will also resign from his position after the term expiry.
The DTH company’s largest shareholder Yes Bank (NS:) has been involved in a year-long campaign against Dish TV promoters and has been pushing for a board overhaul, demanding the removal of Goel along with some significant board members.
Earlier this month, Dish TV agreed to appoint three of the seven independent directors proposed by Yes Bank. The private lender holds about a 25% stake in the satellite television provider.