Dish TV Rights Issue
Dish TV Board approves Rights Issue

Dish TV India Ltd has announced that the Board of Directors of the Company at its meeting held on April 24, 2008, inter alia, have approved the issue of shares on Rights Basis to the Shareholders of the Company, upto Rs 1200 Crores.

The aforesaid Rights Issue would, subject to approval of the regulatory authorities, inter-alia be in compliance of SEBI (Disclosure and Investor Protection) Guidelines 2000.

The Board of Directors has also approved convening an Extra Ordinary General Meeting of the Members of the Company on May 29, 2008, inter-alia, to seek and obtain the approval of the Members for the following:

- Increase of Authorised Capital from Rs 73 Crores to Rs 100 Crores by creation of additional 27,00,00,000 Nos. of Equity Shares of Re 1 each; and

- Enhancement of borrowing limits from Rs 1000 Crores to Rs 2000 Crores under Section 293(1)(d) of the Companies Act 1956; and

- Authorise the Board under Sec 293(1)(a) of the Companies Act, 1956 to mortgage the assets of the Company to secure the borrowings of the Company from time to time.