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Market regulator Securities and Exchange Board of India (Sebi) has warned Dish TV India Ltd of regulatory action for failing to disclose the results of its annual general meeting (AGM) held on 30 December, according to a report in Mint.
Sebi has told the company that all listed entities are mandated to submit the voting results within two days after the AGM concludes, adding “the disclosure has already been delayed by 37 days.”
The warning comes when Dish TV is fighting a legal battle with its largest shareholder, Yes Bank Ltd, against the disclosure of its AGM results, the report said.
In spite of there being no prohibitory or restraint order from the court, the company has failed to disclose the voting results of the AGM held on December 30, 2021, Sebi said in the advisory letter to Dish TV.
“As this action by the company ultimately affects shareholders and investors due to lack of information in the public domain, the company is once again called upon to disclose the voting results of the AGM held on 30 December, immediately as the disclosure has already been delayed by 37 days.
The non-compliance by the company has been viewed seriously by Sebi, and it is informed that the continuing non-compliance shall result in the initiation of appropriate enforcement action against the company,” it added.
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