Why has Yes bank taken the Dish TV case to the Supreme Court?

The legal dispute between Yes Bank and Dish TV over voting rights on resolutions has now been taken to the Supreme Court. Let us look at a quick background to this case. It may be recollected that Yes Bank had acquired 24.5% stake in Dish TV purely because the promoters of Dish TV had failed to repay their debt. As a result, Yes Bank had invoked pledged shares. How Subhash Chandra had filed a FIR alleging fraud by Yes Bank.

Yes Bank had originally approached the Allahabad High Court to dismiss and quash the FIR filed by Subhash Chandra. However, the Allahabad High Court refused the quash the FIR without check the merits of the case. This forced Yes Bank to approach the Supreme Court for redressal. Meanwhile, the voting rights of Yes Bank stand frozen as of now pending full investigation of the fraud as accused by Chandra.