Dish TV India Limited has been penalized with a combined fine of ₹9 lakh by Indian stock exchanges for failing to maintain the minimum prescribed board strength during the quarter ended March 31, 2026. The National Stock Exchange of India Limited and BSE Limited each imposed a fine of Rs. 4,50,000 on July 29, 2026, citing violations of Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors addressed the notices at its meeting on July 29, 2026, attributing the non-compliance to external regulatory hurdles rather than internal governance failures.

The fines were levied because the company’s board strength dropped below the six-director minimum mandated by listing norms. Dish TV stated that the shortfall occurred because shareholder approval for new director appointments was delayed, and the Ministry of Information and Broadcasting (MIB) requires prior approval for such appointments under Uplinking Guidelines. The company noted that while it could appoint interim directors to meet the Companies Act requirement of three directors, this exemption did not satisfy the stricter SEBI listing norms.

The compliance gap persisted despite the company’s efforts to appoint independent directors. Mr. Mayank Talwar and Mr. Gurinder Singh were appointed as Independent Directors effective December 12, 2024, keeping the board count at three. However, shareholders did not approve these appointments on August 14, 2025. Consequently, the Board appointed Mr. Arun Kumar Kapoor and Ms. Heena Naishadh Bhatt as Independent Directors from August 14, 2025, again maintaining a strength of three. Shareholders approved the appointments of Mr. Kapoor, Ms. Bhatt, and Mr. Ashok Anant Paranjpe on April 17, 2026. Mr. Paranjpe’s appointment as an Independent Director only became effective on May 13, 2026, upon receiving MIB approval, bringing the total board strength to four directors.

Regulatory Constraints and Governance

The company emphasized that the non-compliance was beyond its control, citing the dual dependency on shareholder votes and government clearance. Under MIB guidelines, the only exemption for prior approval allows the company to appoint directors if the number falls below three, but this limit prevents meeting the six-director threshold required by SEBI. The Board submitted that neither the company nor its promoters have control over shareholder decisions or MIB timelines. Management confirmed that all requisite steps were taken immediately to ensure compliance once approvals were secured, resulting in the current board composition of four directors.

Dish TV India Limited announced that Veerender Gupta has resigned from his position as Chief Technology Officer, effective June 30, 2026. The resignation follows his transfer to Dish Infra Services Private Limited, a wholly owned subsidiary of Dish TV . Gupta ceased to be a part of the senior management at the close of business hours on June 30, 2026.

The disclosure was made to the National Stock Exchange of India and BSE Limited under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there are no material reasons for the resignation other than the transition to the subsidiary.

Details of Cessation

The company provided specific details regarding the change in senior management personnel in accordance with regulatory requirements.

In his resignation letter addressed to the Chief Executive Officer, Gupta confirmed that his departure is solely due to the transfer of employment to the subsidiary. He also confirmed that he would cease to be a senior management personnel of Dish TV India Limited upon the conclusion of his tenure on June 30, 2026.