Dish TV-Yes Bank: Proxy Advisory Advises Investors to Support Dish TV’s AGM Proposal

Dish TV-Yes Bank Latest News: Dish TV’s AGM will be held on December 30. Investors are keeping a close eye on this AGM. Because, for a long time, Yes Bank has been trying to establish its own control over Dish TV. Attempts are being made to illegally occupy the institution. But, just before the AGM, there is good news for Dish TV. Proxy advisory firm InGovern has endorsed the management proposal. The company has also appealed to investors to support Dish TV’s proposal.

InGovern supported

1 -Understanding Account and Consolidated Account Acceptance: For

In a proposal from management, InGovern recommended its ‘FOR’ on taking separate and integrated accounts. FOR means to support management. That is, he supported the proposal. InGovern says the same opinion was expressed in the separate and consolidated financial statements in 2019-20 FY and that shareholders voted in favor of it at the FY2020 AGM. This audit qualification has been passed by the shareholders. There are no new objections to FY2020-21.

2-Mr. reappointment. Ashok Mathai is responsible for retiring by Kurien rotation: FOR

InGovern has agreed to reappoint Ashok Mathai.

3- Approval of Cost Auditors’ Remuneration for FY2021-22

InGovern says there is no objection to the proposal. We recommend to shareholders to support the proposal.

What’s the matter?

Yes Bank’s dispute with Dish TV has reached the court. The dispute between the two is over Dish TV’s 25.6 percent shareholding with Yes Bank. Yes Bank kept these shares in its account instead of recovering the loan. Dish TV promoters, on the other hand, say they are the real owners of the 440 million shares held in Yes Bank’s demat account. The legal issues are currently before the NCLT, the High Court and the Supreme Court.

The matter is going on in NCLT and court

On December 23, Dish TV’s promoter group company filed an application in the Bombay High Court in a share transfer case. The petition seeks to stop the mischievous attempt to control Dish TV. JSGG Infra Developers LLP has applied to the High Court. JSGG is an entity of Infra Dish TV Promoter Group. Recently, another promoter, World Crest Advisor LLPO, sought intervention in the Bombay High Court. Dish TV’s promoter said the petition called for a halt to the exercise of the franchise. The agency says Yes Bank has the right to vote against the takeover rule. The company says it is trying to control Dish TV in this way. It should stop.

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