Dish TV India Limited was originally incorporated on August 10, 1988 under the name and style of ‘Navpad Texturisers Private Limited’ and its name was then changed to ‘ASC Enterprises Private Limited’ on September 29, 1995. Subsequently, the Company was converted into a public company on December 13, 1995. The name of the Company was then changed to ‘Dish TV India Limited’ on March 7, 2007. The Company commenced its DTH Operations in the year 2003 after obtaining Direct to Home (DTH) License from Ministry of Information and Broadcasting, Government of India.
18th floor A-Wing, Marathon Futurex,
N M Joshi Marg, Lower Parel,
Mumbai -400 018
FC-19, Sector 16 A, Film City,
Noida - 201 301, Uttar Pradesh
The 29th Annual General Meeting of the Company for the financial year 2016-2017 was held on Thursday, September 28, 2017 at 11.00 a.m. at The Hall of Culture, Nehru Centre, Dr. Annie Besant Road, Worli, Mumbai – 400 018.
The Company’s Annual Report and the quarterly results can be downloaded from the Investor Section of the Website of the Company.
As of March 31, 2018 Dish TV India Limited had 1,84,12,70,434 issued equity shares outstanding.
M/s Walker Chandiok & Co LLP,
Chartered Accountants, New Delhi,
(Firm Registration No. 001076N/N-500013)
The fully paid up listed equity shares of Dish TV can be traded on ‘The National Stock Exchange of India Limited’ (NSE) and ‘BSE Limited’ (BSE). The stock code of DISHTV shares is 532839 on BSE and Dish TV EQ on NSE. The ISIN for Company’s fully paid up listed equity shares is INE836F01026.
The Global Depositary Receipts (each representing one Share) (“GDRs”) of Dish TV are listed and can be traded on the Professional Securities Market (“PSM”) of the London Stock Exchange plc. The ISIN for the GDRs is US25471A4013
The Company’s fiscal year ends on March 31.
Link Intime India Private Limited is the Company’s Registrar and Share Transfer Agent and is responsible for maintaining all records of registered stockholders (including change of address, telephone number and name information), cancelling or issuing duplicate stock certificates and resolving problems related to lost, destroyed or stolen certificates.
Details of the Company’s Registrar and Share Transfer Agent is as below:
Link Intime India Pvt. Ltd
Unit: Dish TV India Limited
C-101, 247 Park, L B S Marg,
Vikhroli West, Mumbai – 400 083
Tel: +91 22 49186000 Fax: +91-91 22 49186060
Under the Scheme of Arrangement among Videocon D2H Limited (“Transferor Company”) and Dish TV India Limited (“Transferee Company”) and their respective shareholders and creditors, Videocon D2H Limited (D2H) has amalgamated with and into Dish TV India Limited (Dish TV) with effect from the Effective date of the Scheme. The Appointed date for the Scheme was October 1, 2017 and the effective date for the scheme was March 22, 2018. Upon the scheme becoming effective from the effective date, D2H has merged with and into Dish TV and the entire business of D2H has transferred to Dish TV.
Brief Details of the Companies involved in the Scheme:
Videocon d2h Limited was originally incorporated as Bharat Business Channel Limited vide Certificate of Incorporation dated November 22, 2002 issued by the Registrar of Companies, Maharashtra, Mumbai. Subsequently the name of the Company was changed to Videocon d2h Limited. Prior to Amalgamation, the registered office of D2H, was situated at Auto Cars Compound Adalat Road, Aurangabad -431 005, the Company was registered with Registrar of Companies, Mumbai, Maharashtra with Corporate Identity Number (CIN) U92100MH2002PLC137947.
Dish TV India Limited was originally incorporated as Navpad Texturisers Private Limited on August 10, 1988. In December, 1995 it was converted to Public Company Limited by shares and on March 7, 2007 it was renamed as ‘Dish TV India Limited’. The Registered office of the Company is currently situated at 18th Floor, A Wing, Marathon Futurex, NM Joshi Marg, Lower Parel, Mumbai, Maharashtra-400 013. Dish TV is presently registered with Registrar of Companies, Mumbai, Maharashtra and the Corporate Identity Number (CIN) is L51909MH1988PLC287553.
D2H was inter alia engaged in the business of providing direct-to-home TV (satellite) services to subscribers in India. With a view to consolidate the business operations of both the Companies and to enable synergies, reduce operational costs and increase operational efficiencies and to significantly contribute to future growth and maximize the shareholders’ value, the Companies underwent the said Scheme. The Scheme enables cost saving, optimum utilization of available resources as a result of pooling of financial, managerial and technical resources and technologies of both the Companies, thereby increasing the shareholder's value.
Upon the Scheme coming into effect, the eligible shareholders of D2H were issued fully paid equity shares of Dish TV in the ratio of approx. 2.01832925 (rounded to eight decimal places), subject to treatment of fractional entitlement of equity shares in terms of the Scheme and the holders of American Depositary Shares (“ADS”) of D2H were offered Global Depositary Receipts (the "GDRs"), each GDR representing one equity share of the Company, exchanged at a rate of approximately 8.07331699 new GDRs for every one D2H ADS (rounded off up to eight decimal places), unless such holders elected to receive equity shares of Dish TV in lieu of GDRs by cancelling their D2H ADSs
The equity shares so issued by Dish TV India Limited has been listed on National Stock Exchange of India Limited (“NSE”) and Bombay Stock Exchange (“BSE Limited) and the GDR have been duly listed on the Professional Securities Market (“PSM”) of the London Stock Exchange plc.
The above Scheme of Arrangement has been approved by Hon’ble National Company Law Tribunal (“NCLT”) vide its Order dated July 27, 2017 and Ministry of Information and Broadcasting (“MIB”), the nodal ministry on December 15, 2017.
Zee Entertainment Enterprises Limited (“ZEEL”) (earlier known as Zee Telefilms Limited) is the flagship company of the Zee group and is India's first largest vertically integrated media and Entertainment Company having various.
ZEEL, Siti Cable Network Limited (‘Siti Cable’), (post demerger of their Cable businesses) along with Integrated Subscriber Management Services Limited (‘ISML’) and New Era Entertainment Network Limited (‘NEENL’) were engaged in the Direct Consumer Services Business (‘DCS Business’), which is providing services to the Direct to Home platform.
Dish TV is engaged in the Direct-to-Home ('DTH') broadcasting business comprising of distribution / uplinking of satellite based television / radio signals, constituting Channels, pursuant to a DTH license issued by the Government of India, Ministry of Information & Broadcasting. The DCS Business carried on by ZEEL directly and/or through its subsidiaries / group companies, has significant potential for growth.
The nature of technology, risk and competition involved in DCS Business is distinct from other businesses carried on by ZEEL and, in fact, rapidly divergent. The DCS Business is capable of addressing independent business opportunities, deploying different technologies and attracting different sets of investors, strategic partners, lenders and other stakeholders.
The management of the Group has considered it appropriate to de-merge the Direct Consumer Services Business Undertaking of ZEEL into Dish TV and merger of Siti Cable and NEENL with Dish TV. The segregation enables cost savings, optimum utilization of available resources which will enhance the management focus thereby increasing the shareholder’s value.
The Appointed Date for the Scheme was April 1, 2006. Upon the Scheme becoming effective the entire Direct Consumer Services Business Undertaking has been transferred to Dish TV India Ltd.
On De-merger, the shareholders of ZEEL were entitled for 23 fully paid up equity shares of Re.1 each of Dish TV India Ltd. for every 10 equity shares of Re 1 each held by them in ZEEL.
Upon the Scheme becoming effective, the fully paid-up equity share capital of Dish TV India Ltd. after giving effect to the entitlement of shares were reduced by canceling 3 equity shares for every 4 equity shares held in Dish TV India Ltd, so as to have serviceable capital. After giving effect of entitlement of shares and reduction of capital, Dish TV India Ltd issued and allotted 5.75 fully paid equity share for every 10 equity share held in ZEEL as on the Record Date.
Pursuant to De-merger of DCS business undertaking of the Company into Dish TV India Ltd., Siti Cable and New Era become subsidiaries of Dish TV and as a part of this scheme, merged with Dish TV. Upon the merger of Siti Cable and New Era into Dish TV, the entire equity capital of Siti Cable and New Era stand automatically cancelled and there will be no issue and allotment of shares by Dish TV to the Shareholders of Siti Cable and New Era.
The Scheme of Arrangement, has been approved by the Hon’ble High Court of Bombay, vide its order dated January 12, 2007 and by the Hon’ble High Court of Delhi vide its order dated December 18, 2006.
No coupons had been issued in respect of fractional entitlements, by Dish TV, to the members of ZEEL at the time of issue and allotment of Equity Shares as above. The Board of Directors of Dish TV consolidated all fractional entitlements, arising due to the de-merger of the DCS Business Undertaking and allotted Equity Shares in lieu thereof to a director, who held the Equity Shares issued in Dish TV, in trust on behalf of the members entitled to fractional entitlements. Later on these shares were sold in the market and the net sale proceeds were distributed, subject to taxes, to the members in proportion to their respective fractional entitlements.