Dish TV India, leading direct to home (DTC) service provider, announced that Acuite Ratings & Research has placed the short term and long term ratings assigned to Dish TV India to 'Under rating watch with developing implications'.

There has been no change in the rating assigned to the company's facility.

The Dropline Overdraft long term rating worth Rs 4,500 million has the rating ACUITE BB+. While the proposed commercial paper short term rating worth Rs 500 million is ACUITE A4+.

In terms of the said communication, the Company has been informed that Acuité has placed the rating under watch with developing implication based on publicly available information regarding the demand notice of Rs 41,640.5 million  from Ministry of Information and Broadcasting for the disputed license fee and interest on the entity.

Although, Dish TV India has already made provisions for this event to the tune of Rs 35,757.7 million as on Mar. 31, 2020 which includes the interest as well. The matter is sub- judiced and pending before the High Court of Jammu and Kashmir.

Shares of the company declined Rs 0.18, or 1.38%, to settle  at  Rs 12.87.  The total volume of shares traded  was  1,985,442 at  the BSE (Tuesday).