Dish TV India Settles SEBI Proceedings with Payment of Rs11.72 Lakh

Moneylife Digital Team 14 November 2025

Investor Interest

Dish TV India Ltd has settled adjudication proceedings initiated by the market regulator Securities and Exchange Board of India (SEBI) by paying a settlement amount of Rs11.72 lakh. The settlement brings closure to a regulatory action concerning the company’s alleged violation of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

SEBI had initiated adjudication under Section 15-I of the SEBI Act, 1992, over allegations that Dish TV India failed to obtain prior shareholder approval for the continuation of Jawahar Lal Goel as a non-executive director between 25 June 2022 and 19 September 2022. His proposal for reappointment as managing director (MD) had been rejected by a majority of shareholders, making continued directorship contingent on shareholder approval under Regulation 7(1C) of the LODR Regulations.

In view of the alleged lapses, the competent authority appointed an adjudicating officer (AO) on 13 January 2025. Following the transfer of the erstwhile AO, the matter was reassigned on 11 September 2025. SEBI subsequently issued a show cause notice on 17 January 2025, seeking an explanation as to why an inquiry should not be initiated and penalties imposed.

While proceedings were underway, Dish TV filed a settlement application under the SEBI (Settlement Proceedings) Regulations, 2018, without admitting or denying the findings. The internal committee (IC) met on 27 May 2025 and after discussions with the company’s authorised representative, recommended an indicative settlement amount of Rs11.72 lakh.

Dish TV India formally agreed to the recommended amount through its letter dated 3 June 2025. The company also confirmed that Mr. Goel had stepped down from the board on 19 September 2022, and stated that it had complied with the applicable provisions of the LODR Regulations thereafter.

The high-powered advisory committee (HPAC), in its meeting on 3 July 2025, endorsed the recommendation of the IC and the Panel of whole-time members (WTM) of SEBI approved the settlement on 3 September 2025. Dish TV India subsequently remitted the settlement amount on 12 September 2025.

Upon confirmation of payment, SEBI disposed of the adjudication proceedings through a settlement order under Section 15JB of the SEBI Act, 1992 of the Settlement Regulations. The order brings the matter to a close, although it preserves SEBI’s right to reopen proceedings if it finds that the company made incomplete disclosures, violated undertakings, or if discrepancies are later discovered in the settlement terms.

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