desk
Share
News Topical, Digital Desk : Direct-to-home operator Dish TV India Ltd has informed that major exchanges BSE and National Stock Exchange (NSE) have fined the company for violating the rules. BSE and NSE have again fined Dish TV for lack of board quorum and structure. Dish TV has been embroiled in a dispute at the board level between its promoters for the last few years. This is the reason why it was also fined by the exchanges in 2023 and 2024. The company received a new notice on August 29.
Both NSE and BSE have imposed a fine of Rs 5.69 lakh on Dish TV for violation of listing rules and directed to pay it within 15 days from the date of stock exchange communication. Dish TV said that the fine imposed on the company will be paid. Also, the company said that there will be no impact on the financial, operation or other activities of the company, only the amount of fine is payable.
What the exchanges told the company The company said that the non-compliance with respect to the reduction in the number of the board was due to the lack of shareholders' approval for the appointment of directors and it was beyond the control of the board or the company. Apart from this, the exchanges have also advised the company to inform the promoters about the non-compliance and place the communication before the board in the next board meeting, and the comments made by the board should be informed to the exchange. According to the information available on the Dish TV portal, the board of the company consists of seven members. These include its executive directors-chairman-CEO Manoj Doval, four independent directors, CFO, and company secretary. The company's stock closed at Rs 5.11 on Friday with a decline of 0.20 percent. In the last one year, the company's stock has seen a decline of 65.02 percent.
--Advertisement--
