Dish TV Settles SEBI Case, Pays Rs 11.7 Lakh Over Jawahar Lal Goel's Unauthorized Continuation On Board

Dish TV India Limited has settled adjudication proceedings, initiated by the Securities and Exchange Board of India (SEBI) by paying Rs 11.7 lakhs, over the unauthorized continuation of Jawahar Lal Goel, a non-executive director on its board without shareholder approval, a breach of listing regulations.

SEBI Adjudicating Officer Sudeep Mishra closed the adjudication proceedings on November 14 accepting the settlement sought by Dish TV. This allows Dish to close the proceedings against the company without it admitting or denying any wrongdoing.

The proceedings were originally initiated in January 2025 for violating the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which require a listed company to obtain shareholder approval before appointing or reappointing a director or manager. This approval must be obtained either at the next general meeting or within three months of the appointment, whichever comes first.

According to SEBI, Dish TV failed to comply with the regulation by allowing Goel to continue as a non-executive director from June 25, 2022, to September 19, 2022, despite shareholders rejecting his reappointment as Managing Director

Dish TV offered the settlement amount recommended by SEBI's Internal Committee and confirmed that Goel resigned on September 19, 2022. The High Powered Advisory Committee approved the settlement, SEBI received the payment, and the proceeding is now formally closed.

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