Signals, Powered By EquityPandit
On Monday, Dish TV India Ltd had decided to write off about 15 per cent of its investments in its OTT streaming app Watcho. In September, Yes Bank Ltd was invested and started to push for promoter changes in the satellite TV provider. Additionally, Dish TV has disclosed the agreement to write off Rs 203 crore invested in Watcho; it is recognised as Rs 2,334.57 crore regards to the Videocon D2H merger
- What is Stock Order : Types, Differences & How Order Works
- India’s Business Activity Hits 3-Month High in Nov Amid Rising Costs
- Trudeau to Cut Sales Tax and Send Checks to Canadians Ahead of Election
- Ashwini Vaishnaw Encourages German Companies to Invest in India
- Flipkart Appoints Dan Bartlett to Board
Dish TV has to post Rs 1,919.7 crore losses during the fourth quarter as against Rs 80.21 profit in the third quarter—also, the investment in Watcho by Dish TV of Rs 1,378 crore investment in the FY2020. In 2021 had become a sticking point with Yes Bank on September 15, media reported.
“Shareholders had rejected from approving Dish TV’s financial report as the auditor had made qualifying remarks on the investments in Watcho and also because it had not done the mandatory impairment test with regards to the Videocon D2H business,” said an investor who owns more than 1 per cent shares of Dish TV.
Now, the auditor has not made any qualifying remarks after the company decided to write off these investments. So Dish TV wants to get its financials approved by the shareholders in the AGM (Annual General Meeting). But before the AGM, a bigger test lies ahead of the Board, led by chairman and managing director Jawahar Goel.
