In a fresh salvo against Dish TV, Yes Bank has moved the Bombay High Court seeking directions for the satellite TV provider to hold its extraordinary general meeting (EGM) soon.
The case came up for hearing at the Court today and a division bench of the High Court admitted the petition filed by Yes Bank. The next hearing is scheduled for October 3 and in the meantime, Dish TV has been asked to file a response to the petition.
The bank is the largest shareholder in Dish TV, owning 24.78 percent stake.
Yes Bank had approached the Mumbai bench of the National Company Law Tribunal (NCLT) in November 2021 asking for scheduling of Dish TV EGM. But so far there has been no response from the NCLT special court. Thus, the bank approached the high court.
Also read: What is the Yes Bank and Dish TV case about?
Meanwhile, Dish TV chairman Jawahar Lal Goel resigned from the board of directors of the company on September 19, it said in an exchange filing. The company has not yet made the outcome of voting at the 33rd annual general meeting pending litigations.
The resignation of Goel culminates Yes Bank’s year-long campaign against Dish TV promoters. YES Bank has been seeking the ouster of the promoter family Essel Group.In November 2021, Yes bank reduced its stake in the direct-to-home TV company from 25.63 percent to 24.78 percent.