REG - Dish TV India Ltd - Circ re. (Outcome of Board Meeting)

Dish TV IndiaAnnouncement

19/07/2023 08:00

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RNS Number : 4965G  Dish TV India Limited  19 July 2023

July 19, 2023

 

London Stock Exchange plc.

10 Paternoster Square

London

EC4M 7LS

 

Subject: Intimation regarding the decision taken by the Board on July 19,
2023, with respect to the communication dated June 28, 2023 (received on June
29, 2023 at the Registered Office of the Company) for calling an Extraordinary
General Meeting of the Dish TV India Limited by certain shareholders.

 

Ref.
:               Stock (Dish TV India) - GDR-MIC - XLOM

 

Dear Sir/Madam,

 

This is in continuation to Company intimations dated May 15, 2023, June 01,
2023, and June 28, 2023 in respect of requisition by certain shareholders,
pursuant to Section 100, 115 and 169 of the Companies Act, 2013, for holding
an Extraordinary General Meeting ("EGM") of the Company.

 

The Board, at its meeting held on July 03, 2023, had advised the management to
obtain opinion from the external and independent experts to consider whether
the requisition notice received on June 29, 2023, meets the criteria for a
valid requisition under the applicable provisions of the Companies Act, 2013
to call an EGM.

 

This is to inform you that the Board of Directors of the Company at their
meeting held today, i.e., July 19, 2023, have considered the aforesaid
requisition notice received on June 29, 2023.

 

Based on the advice obtained from independent and eminent experts on this
issue, the Board noted that 52 Individual Requisition Notices ("IRNs") have
been received in photocopy and not in original. The original of the said 52
IRNs formed part of the requisition notice of May 15, 2023, which requisition
was not accepted by the Board in totality, for reasons set out in our earlier
intimation of June 01, 2023. Consequently and based on aforesaid opinion, the
Board has concluded that abovementioned 52 IRNs cannot be considered valid for
the purposes of the requisition received on June 29, 2023, since the
requisition of May 15, 2023 was invalidated in totality.

 

In view of the abovementioned invalidity, the collective shareholding of the
valid IRNs forming part of the requisition received on June 29, 2023 does not
fulfil the requirement of holding at least 10% of the share capital of the
Company for calling an EGM, as prescribed under Section 100 of the Companies
Act, 2013. Therefore, the Board has decided that the EGM cannot be called due
to numerical and procedural invalidity.

 

The abovementioned details are being communicated to the advocates said to be
representing the members. The Company shall also be advising the said
advocates that in case the members intend to send a fresh requisition notice,
they may do so in compliance with the applicable provisions of the Companies
Act, 2013.

 

You are requested to kindly take the above on record.

 

Thanking You,

 

Yours truly,

For Dish TV India Limited

 

 

Ranjit Singh

Company Secretary & Compliance Officer

Membership No.: A15442

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