JC Flowers Asset Reconstruction has withdrawn its National Company Law Tribunal petition against Dish TV, ending a long dispute over board reconstitution and proposals rejected by shareholders. The plea sought an extraordinary general meeting, but its withdrawal gives Dish TV relief and shifts momentum in its favor after a prolonged tussle over control and governance.
Dish TV India said shareholders overwhelmingly approved the appointment of three independent directors, a vote of confidence in its strategic direction. The DTH operator plans to strengthen core operations while backing sustainable growth not only in its traditional DTH business but also in newer efforts such as connected TV and OTT.
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