InvestorQ : Why has Dish TV challenged the Bombay High Court?
Riya Dwivedi made post

Why has Dish TV challenged the Bombay High Court?

shrinidhi Rajan answered.
12 months ago

The challenging of the court decision was done by World Crest Advisors, the promoter of Dish TV India. It has challenged the ruling by a single-judge bench of the Bombay High Court. The actual bone of contention is in the Zee group trying hard to restrain Yes Bank from voting in the extraordinary general meeting (EGM) scheduled to be held on 24th June. The judges are slated to hear the plea on 22nd June, Wednesday.

Yes Bank is the largest shareholders in Dish TV and currently owns a 24.78% stake. This stake largely came about after the shares were forfeited by Dish TV in the light of the loan default committed by Dish TV on Yes Bank loan. This marks the continuation of the ongoing battle between the Goel family and Yes Bank over control of Dish TV. Yes Bank had earlier demanded an EGM of shareholders to oust Goel and others from the board. However, amidst the Sony deal, the ouster is not happening.