Jawahar Lal Goel has resigned from Dish TV India's board of directors and is no longer the firm's Chairman, the business declared in a stock market notification. The departure comes only days after the business announced that Goel will not seek re-election to the board.
Goel will step down from the board of directors at the company's annual general meeting on September 26, according to a stock market announcement issued on Tuesday. It was also said that independent director Bhagwan Das Narang will leave office when his tenure ended.
Yes Bank, which owns nearly a quarter of Dish TV, has been advocating for a board restructure, including the removal of Goel, Narang, and other members, claiming corporate governance concerns.
The Goels hold only 6% of the firm and have lost control of it after banks took the promoter's pledged shares.
Dish TV agreed to add two Yes Bank candidates to its board last month, and on August 30 it evaluated another from the private lender. Girish Paranjpe, Arvindnachya Chandranachya, and Haripriya Padmanabhan were among them.