InvestorQ : Why has Dish TV rejected the YES Bank demand to call an EGM?
Lavanya Subramanian made post

Why has Dish TV rejected the YES Bank demand to call an EGM?

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Anamika Sodhani answered.
1 month ago
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The board of directors of Dish have outright rejected YES Bank's demand to hold an EGM. The Dish TV board has cited the absence of prior approvals from the government and lenders as a reason for the rejection. Dish TV being in the media industry, any major decision changes requires the prior approval of the Ministry of Information and Broadcasting. YES Bank holds the largest 25.93% stake in YES Bank.

Yes Bank has sought the removal of Jawahar *** Goel from the board and has sought the appointment of its own nominees. Incidentally, Jawahar *** Goel is the brother of Subhash Chandra of Zee, where a similar story is playing out with Invesco Fund. In the case of Dish TV, the dispute arises due to the proposed rights issue, which YES Bank felt was a dilution of its interests and was done without duly consulting them in advance.

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