Just like the first requisition notice, the second one has also been rejected due to numerical and procedural invalidity. The company said the decision was taken after advice from independent and eminent experts.
“The board of Dish TV reviewed the notice requesting an EGM from a group of minority shareholders. After careful consideration, they considered the notice invalid due to its incompleteness, leading to its rejection,” said Dish TV India CFO Rajeev Dalmia.
The rejection of the requisition notice drew criticism from the Dish TV Minority Shareholders Association, which has been pushing for the removal of Shankar Aggarwal and Rashmi Aggarwal as directors. The association, which is also seeking to appoint K. Badri Narayanan, Satish Kumar Yanmandra, and Jeet Sen Gupta as non-executive independent directors, termed the company’s decision as arbitrary and illegal.
“The rejection by the company of the requisition notice is arbitrary, illegal, and against the rules and provisions of the Companies Act. The decision of the board has deprived the minority public shareholders of their legal rights to call for an EGM,” said Vis legis law practice managing partner Rahul Hingmire, who is also the spokesperson for the association.
