Circ re. (Update)

Dish TV India Limited

28 July 2023

 

July 28, 2023

London Stock Exchange plc.

10 Paternoster Square

London

EC4M 7LS

Subject: Update

Ref.                        :               Stock (Dish TV India) - GDR-MIC - XLOM

Dear Sir / Ma'am,

This is to inform you that the Company had filed a compounding application with the Reserve Bank of India relating to the contravention of provisions of Regulation 15 of Foreign Exchange Management (Transfer or Issue of any Foreign Security) Regulations, 2004, in relation to delayed/non-repatriation of dues in the form of loan and interest receivable from its overseas joint venture viz. Dish T V Lanka (Private) Limited.

In this regard, the Reserve Bank of India vide order dated July 27, 2023, bearing CA No. 6030/2022 (received over the email on the evening of July 27, 2023) has agreed to compound the contravention upon payment of Rs. 50,14,407/- (Rupees Fifty Lacs Fourteen Thousand Four Hundred and Seven Only) by the Company. The Company will deposit said amount with the Reserve Bank of India within the prescribed timeline.

There is no impact on financial, operation or other activities of the Company other than the penalty amount payable.

You are requested to kindly take the above on record.

Thanking You,

Yours truly,

For Dish TV India Limited                       

Ranjit Singh

Company Secretary & Compliance Officer

Membership No.: A15442

 

END