Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

A group of minority shareholders of <keyword id="51758" type="General" weightage="100" keywordseo="dish-tv" source="Orion">Dish TV</keyword> has sent a notice to call an Extraordinary General meeting (EGM) of the direct-to-home service provider, raising concerns over corporate governance issues, seeking reconstitution of the board and removal of two independent directors questioning their independence. The notice sent by 77 shareholders of Dish TV, representing 10.15 per cent shareholding, proposed to nominate K Badri Narayanan, <keyword id="17427302" type="General" weightage="50" keywordseo="satis-kumar-yanmandra" source="Orion">Satis Kumar Yanmandra</keyword>, Jeet Sen Gupta as independent directors on the board of the <keyword id="60807" type="General" weightage="80" keywordseo="essel" source="Orion">Essel</keyword> Group firm. Besides, it has also sought the removal of two independent directors -- <keyword id="1624320" type="General" weightage="50" keywordseo="shankar-aggarwal" source="Orion">Shankar Aggarwal</keyword> and Rashmi Aggarwal -- from the board of the company. "The existing independent directors have a long-term association with Dish TV and Essel group which cast doubt over their independence," the shareholders wrote in the notice. Dish TV is embroiled in a tussle between its largest shareholder Yes Bank Ltd (YBL) and the promoter family led by its former chairman Jawahar Lal Goel over board representation in the company. The company is unable to pass its annual statements from the last two years and the feud has led to the departure of its former promoter-backed chairman Jawahar Lal Goel. Informing about the development to the stock exchanges, Dish TV said it is examining the communication from the minority shareholders. "... will take necessary steps as per applicable law and procedures," said Dish TV in a regulatory filing. Besides, the minority shareholders have also raised several other issues questioning the investments made by the company such as in its OTT platform Watcho. "Dish TV made a significant investment of Rs 1,218 crore (which is 20 per cent of total netblock of the fixed assets, intangibles, investments and capital WIP of Rs 6,012 crore) in the FY20 (Intangible Assets), for Watcho, its flagship OTT platform," they said. The investments were qualified in FY2020 (the year of the investment itself) and in FY2021. "Upon lenders and investors questioning the investments, the company had made an impairment of Rs 203 crore in FY2022," it said. During FY20, the Essel group companies defaulted with multiple lenders, including bank loans to Essel group companies secured by the pledge of Dish TV Shares, they said. "It is our apprehension, that anticipating a loss of majority shareholding due, to the invocation of pledged Dish TV shares from bank and other lenders, the aforesaid funds may have been diverted by the promoters for other purposes," the letter said. On the removal of the two existing independent directors, the minority shareholders said, "They have long-term association with Dish TV and Essel group which cast doubt over their independence." Rashmi Aggarwal held directorship in other Essel group entities -- Dish Infra, <keyword id="2682539" type="General" weightage="50" keywordseo="zee-media" source="Orion">Zee Media</keyword>, and Essel Forex -- till Feb 2019, while <keyword id="17427303" type="General" weightage="50" keywordseo="shankar-agganval" source="Orion">Shankar Agganval</keyword> held directorship in Essel Infraprojects Ltd till November 2018. Essel Infraprojects is a defaulter entity with YES Bank and several other lenders and his association is a "red flag", the notice added. Besides, they have also raised other corporate governance issues and alleged that the board is not acting in line with good corporate governance standards. It does not have a "fair representation" of the incumbent significant shareholders of banks and financial institutions holding 45 per cent shareholding in the company. "The board is purportedly acting at the behest of certain minority shareholders holding merely 4 per cent of the shares in the company," they alleged. Moreover, they also raised concerns over the continuation of Jawahar Lal Goel as additional director after a proposal for his re-appointment as MD was rejected by the shareholders. "It was only after the intervention of the shareholders that he subsequently resigned as additional director," they said. In December last year, shareholders of Dish TV again rejected the proposal for the adoption of audited standalone and consolidated financial statements for FY21 and FY22 in the AGM. Earlier, the shareholders of the Direct-to-Home service provider had rejected the proposals to approve the balance sheet of the company for the last two fiscals in the 34th AGM conducted on September 26, 2022. In June 2022, shareholders in an extraordinary general meeting rejected the proposal for the reappointment of Goel as its managing director. In September, shareholders of Dish TV rejected four resolutions in the AGM, including the adoption of the company's financial statements for FY21 and FY22, and the appointment of independent director Rakesh Mohan. Dish TV shareholders, on December 30, 2021, also rejected all three proposals, including the adoption of financial statements and the reappointment of Ashok Mathai Kurien as director. Goel resigned from the board of the company on September 19. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/heres-how-indians-paid-for-non-cash-transaction-in-fy22/slidelist/100274422.cms">Here’s how Indians paid for non-cash transactions in FY22</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-transfer-your-whatsapp-chats-without-using-google-drive/articleshow/100270586.cms">How to transfer your WhatsApp Chats without using Google Drive</a> <a href="https://www.businessinsider.in/tech/news/8-things-that-google-bard-can-do-but-chatgpt-cannot/articleshow/100187360.cms">8 things that Google Bard can do, but ChatGPT cannot</a>

Dish TV minority shareholders seek EGM, removal of two independent Directors

<keyword id="19895142" type="General" weightage="100" keywordseo="Shah-Rukh-Khan" source="keywords">Shah Rukh Khan</keyword> is "a connoisseur of art and a good actor", said veteran star <keyword id="19929172" type="General" weightage="20" keywordseo="Kamal-Haasan" source="keywords">Kamal Haasan</keyword> and revealed the superstar didn't charge a single penny for his 2000 bilingual film "<keyword id="21044414" type="General" weightage="20" keywordseo="Hey-Ram" source="keywords">Hey Ram</keyword>". "Hey Ram" is a period drama written, directed, and produced by Kamal, which also starred him and Shah Rukh in the lead. In the Tamil-Hindi movie, Kamal and Shah Rukh played friends Saket Ram and Amjad Ali Khan, respectively. At the trailer launch of his upcoming movie "<keyword id="21727589" type="General" weightage="20" keywordseo="Hindustani-2" source="keywords">Hindustani 2</keyword>", the multihyphenate said titles like 'star' or 'superstar' don't matter while working on a film. "When we work together, we are all just people. I don't see a superstar. He doesn't see a super director. We are friends. Shah Rukh sahib made that film for free... That cannot be done by a superstar. That can be done only by a fan. A connoisseur of art and a good actor. I'm ever thankful to him. Later on, you give us those titles and we very shyly accept it," Kamal told reporters here on Tuesday night. The 69-year-old also spoke about how he wanted screen icon <keyword id="19923448" type="General" weightage="20" keywordseo="Dilip-Kumar" source="keywords">Dilip Kumar</keyword> to star in the Hindi remake of the 1992 Tamil film "<keyword id="22180547" type="General" weightage="20" keywordseo="Thevar-Magan" source="keywords">Thevar Magan</keyword>". Directed by <keyword id="22187094" type="General" weightage="20" keywordseo="Bharathan" source="keywords">Bharathan</keyword>, "Thevar Magan" was written and produced by Haasan. It starred Sivaji Ganesan and Kamal as a father-son duo. Unfortunately, Dilip Kumar had decided to retire from cinema by the time he reached out to him. "I wanted to do it only with Yusuf sahib (Dilip Kumar's real name). When he said I'm not going to do any more films. Then, I sold the rights to somebody because I didn't want to and I couldn't think of anybody else. And so that was a dream that didn't come through," Kamal recalled. Eventually, Amrish Puri played the father to Anil Kapoor in "Virasat", the 1997 Hindi remake of "Thevar Magan". Kamal said he used to come to Mumbai to wish the late star on his birthday on December 11. "I'm a great fan and a student of Yusuf saab. I don't know how many people know because it was a secret fact. I used to come here whenever I could on December 11 on his birthday and kneel before him to kiss his hand," he added. "Hindustani 2: Zero Tolerance" is a sequel to Kamal's hit 1996 film "<keyword id="19927125" type="General" weightage="20" keywordseo="Indian" source="keywords">Indian</keyword>", which featured him in a dual role and also starred Manisha Koirala, Urmila Matondkar and Kasthuri Shankar. The movie was directed by S. Shankar, who is returning for the sequel, slated to be released on July 12. Besides Kamal, the sequel stars Kajal Aggarwal, Siddharth, and Rakul Preet Singh in key roles. It is produced by Subaskaran Allirajah's Lyca Productions and Udhayanidhi Stalin's Red Giant Movies.

Kamal Haasan says SRK worked in 'Hey Ram' for free: I'm ever thankful to him

<keyword id="12044174" type="General" weightage="20" keywordseo="Shares-of-Dish-TV" source="Orion">Shares of Dish TV</keyword> India surged on Tuesday even after <keyword id="45660" type="General" weightage="20" keywordseo="YES-Bank" source="Orion">Yes Bank</keyword>, a significant shareholder in the company, has sought the removal of the company's directors including the Managing Director over alleged corporate misgovernance. The bank which holds 25.63 per cent stake in the company lender had sent a special notice dated September 3, 2021, to <keyword id="51758" type="General" weightage="20" keywordseo="Dish-TV" source="Orion">Dish TV</keyword>, demanding the removal of directors under <keyword id="12044175" type="General" weightage="20" keywordseo="Section-169" source="Orion">Section 169</keyword> of the <keyword id="6390099" type="General" weightage="20" keywordseo="Companies-Act" source="Orion">Companies Act</keyword>, 2013. Around 12 noon, shares of Dish TV India on the BSE stood at Rs 15.31, higher by Rs 1.53 or 11.10 per cent from its previous close. In a regulatory filing on Monday, the company said that it is further examining the special notices for such approvals as may be required including the steps to be taken to get the candidature of proposed new directors cleared from the Ministry of Information &amp; Broadcasting, as its prior approval is a mandatory requirement. It sought the removal of Rashmi Aggarwal, Shankar Aggarwal, Ashok Mathai Kurien and Bhagwan Das Narang as directors on the board. Further, it has also sought the ousting of Jawahar Lal Goel as the Managing Director of the company. Post his removal from the board, "Jawahar Lal Goel shall cease to be the Chairperson of the Company," Yes Bank said. The bank said that the present board of directors of the company has approved a rights issue process, pending objections raised with the Board by the Bank time and again, solely to dilute the shareholding of the Bank and to prejudice the interests of the bank which is the single largest shareholder of the company as of date. "The board is not acting in line with good corporate governance standards and is not a fair representation of the incumbent significant shareholders of the company being various banks and financial institutions holding about 45 per cent shareholding in the company," it said. The board is purportedly acting at the behest of certain minority shareholders holding merely 6 per cent of the shares in the company, Yes Bank said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/zoho-corp-invests-5-million-in-medical-devices-startup-voxelgrids/articleshow/86000656.cms">Zoho Corp invests $5 million in medical devices startup Voxelgrids</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/mx-takatak-instagram-josh-moj-and-snapchat-are-most-downloaded-social-and-entertainment-apps-in-india-as-per-app-annie/articleshow/86003516.cms">India accounts for the highest number of social app downloads globally: App Annie</a>

Dish TV shares surge despite shareholder YES Bank seek to oust board members

The Labour Ministry has directed retirement fund body EPFO and health insurance provider ESIC to exempt startups from inspection and filing returns for 3 years. 
 
In line with Prime Minister Narendra Modi's vision to nurture startups, the ministry said in a set of directions last week that the new age ventures should be allowed to self-certify their compliance with 9 labour laws. 
 
Labour Secretary Shankar Aggarwal in a letter said startups should not be inspected or asked to file returns for 3 years under 9 laws including Employees' Provident Fund and Miscellaneous Provisions Act and the Employees State Insurance Act. 
 
"Promoting startups would need special hand holding and nurturing. Thus, such ventures may be allowed to self-certify compliance with the Labour Laws," he added. 
 
They will be exempted from inspection under the Building and other Construction Workers (Regulation of Employment and Conditions of Service) Act, Inter-State Migrant Workmen (Regulation of Employment and Conditions of Service) Act, Payment of Gratuity Act and Contract Labour Act. 
 
Startups will also be exempted from filing returns under the Industrial Disputes Act, Building and other Construction Workers Act, Inter-State Migrant Workmen Act, Contract Labour Act, EPF Act and ESI Act. 
 
There will be a blanket exemption from inspection and filing returns for the first year and would be asked to file an online self declaration form. 
 
They will also not be asked to file return or inspected for the next two years, but will be inspected in case a "very credible and verifiable" complaint of violation is filed in writing and the approval has been obtained from the Central Analysis and Intelligence Unit (CAIU), Aggarwal said. 
 
Except the EPF and Miscellaneous Provisions Act and the ESI Act, the implementation of other seven laws lies in both central and state government's sphere. 
 
Labour Ministry had directed its officials as well as the EPFO and ESIC to regulate inspection of startups, under laws which lie in the centre's sphere. 
 
Image credit: Indiatimes

Don't inspect startups for 3 years: Labour Ministry tells EPFO, ESIC

The government is going to formulate the policy for its mega plan to convert 100 existing cities into smart cities. The private sector will be allowed to participate in the process, Urban Development Secretary Shankar Aggarwal said. 
 "We are putting the pieces together and trying to create some kind of a policy framework so that a large number of private sector entities can get into this business and create more jobs. And whatever needs to be done in terms of availability of land, in terms of the plethora of red-tapism and rules and regulations, we will do," Aggarwal said at the <keyword id="2502936" type="UNKNOWN" weightage="100" keywordseo="National-Real-Estate-Summit">National Real Estate Summit</keyword> organised by industry body PHD Chamber in Delhi. 
 
The government is also in the process of finalising bylaws and floor area ratio (FAR) norms to find a way to fully utilise the existing land in the country, he said. “Why should we acquire so much land unnecessarily? Can we not make use of the existing pool of land? I think it can be done. Why don't we go in for vertical development with 50, 100 storey buildings?" he asked. 
 
Connaught Place, for instance, is today one of the most expensive real estate in the world, but it is artificially created, he said. "This is because we do not bring in more land into the pool or we don't allow the existing pool of land to be developed optimally. We've got to change our system. The government is looking into it," Aggarwal said. 
Image: Thinkstock

You Searched For "shankar aggarwal" and got 5 results

Dish TV minority shareholders seek EGM, removal of two independent Directors

PTI

Kamal Haasan says SRK worked in 'Hey Ram' for free: I'm ever thankful to him

PTI

Dish TV shares surge despite shareholder YES Bank seek to oust board members

IANS

Don't inspect startups for 3 years: Labour Ministry tells EPFO, ESIC

BI India Bureau

Private Sector To Participate In Smart Cities

BI India Bureau

Popular Keywords

Buying Guides