Yes Bank, the largest shareholder of Dish TV India Ltd, has asked the satellite television service provider to hold an extraordinary general meeting (EGM) of shareholders and act on its recommendations to reconstitute the company’s board.

This follows Dish TV postponing the annual general meeting that was scheduled on September 27. No new dates have been communicated yet.

According to Yes Bank, the extension is based on “unfounded reasons” and Dish TV is engaging in “dilatory tactics” in placing the resolutions to remove its managing director Jawahar Goel along with four other directors.

The Essel group’s direct-to-home service provider had sought more time as any change in the CEO or the board of directors of the company needs the approval of the ministry of information and broadcasting.

Dish TV on Thursday said it has received a communication from Yes Bank to call for an EGM.

“In the light of the company engaging in dilatory tactics in placing the resolutions before the shareholders, the bank is constrained to issue the present notice under Section 100 of the Companies Act, 2013 for holding an EGM of the Company,” Yes Bank said.

“The bank has issued revised notices to the company on September 9, 2021, wherein the effectiveness of the change in directorship of the company was made subject to receipt of the ministry approval,” it said.

It had in its letter dated September 18, 2021 submitted details of the proposed directors to enable the company to apply to the ministry and seek their approval, Yes Bank said.

Yes Bank holds 47.19 crore shares of Dish TV, representing a 25.63 per cent stake.