Dish TV’s minority shareholders reach out to MCA on EGM delay

Mumbai: Minority shareholders of direct-to-home (DTH) firm Dish TV India have approached the ministry of company affairs (MCA) in opposition to, what they mentioned, the delay by the corporate’s board in convening a unprecedented basic assembly (EGM).

In a letter dated Could 23, the Dish TV Minority Traders Affiliation urged the MCA to take speedy motion by instructing the Dish TV board to promptly name for an EGM as per authorized necessities.

The affiliation, which represents 77 home and overseas institutional traders who collectively personal 10.15% of the DTH firm, had on Could 15 written to the Dish TV board to convene an EGM inside the stipulated 21 days.

It additionally known as upon the ministry to provoke “stringent” measures in opposition to Dish TV administrators for his or her a number of alleged violations of the Corporations Act. The affiliation has additionally requested the MCA to direct its officers to expedite motion on its earlier complaints.

“It has been greater than per week now and we’ve got not but acquired any response from the Dish TV administration. We now have knowledgeable the MCA to make sure that Dish TV’s present administration takes the required steps to adjust to the requisition discover that we’ve got despatched,” mentioned Vis Legis Legislation Observe founder and associate Rahul Hingmire.