SEBI orders Dish TV to release its AGM results

Dish TV failed to meet the legal criteria, according to SEBI, despite the fact that the Bombay High Court issued no prohibitory or restraining order.

The market regulator has ordered Dish TV (India) Ltd to publish the outcomes of its annual general meeting, which was conducted on December 30.

According to the regulator’s advisory letter enclosed with an exchange filing, Dish TV received an advisory letter on Feb. 9 stating that under the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, every listed entity is required to submit the voting results two days after the AGM concludes.

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According to the Securities and Exchange Board of India, the declaration has already been postponed by 37 days. Yes, Bank Ltd. approached the Bombay High Court in January, demanding that it order Dish TV to publicly reveal the results of its annual general meeting. It further requested that Dish TV implement the AGM outcomes.

The request came as part of an ongoing dispute with World Crest Advisors LLP, a Dish TV promotional business. Subhash Chandra created all of these Essel Group entities. Dish TV’s promoter, chairman, and managing director is his brother, Jawahar Goel.

Later this month, the court will hear arguments on the case. Dish TV failed to meet the legal criteria, according to SEBI, despite the fact that the Bombay High Court issued no prohibitory or restraining order. According to the statement, not disclosing the AGM results has the greatest impact on shareholders and investors.

In answer to SEBI’s advisory letter, Dish TV stated, “Thus, the very issue of declaring the results of the AGM held on December 30, 2021, is in fact sub-judice before the High Court, which has taken cognizance of the issue, and will be hearing the arguments of the parties soon, before issuing its decision.”