Dish TV India Limited has informed the Exchange regarding 'Comments of the Board of Directors on Stock Exchanges Notices dated February 27, 2026 with respect to Non-Compliance of Regulations 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) for the quarter ended December 31, 2025.
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Dish TV India received notices from NSE and BSE on February 27, 2026, for failing to meet the minimum Board composition requirement under Regulation 17(1) of SEBI Listing Regulations for the quarter ended December 31, 2025. The exchanges imposed fines of Rs. 4,60,000 each (total Rs. 9,20,000) on the company. The Board explained that the shortfall is because shareholders have rejected director appointments twice (in December 2024 and August 2025), and because the Ministry of Information and Broadcasting (MIB) requires prior approval for director appointments, limiting the Board to only three directors even under exemption provisions. This creates a conflict: SEBI's LODR requires a minimum of six directors while MIB rules effectively cap it at three, making full compliance impossible.
The financial penalty is small (~Rs. 9.2 lakh) but the repeated rejection of director appointments by shareholders raises governance concerns. The ongoing regulatory conflict between SEBI and MIB rules could remain a compliance overhang. Existing shareholders should watch for further board restructuring efforts and any resolution to the SEBI-MIB conflict, as persistent non-compliance could invite stricter regulatory action.