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Dish TV receives advance copy of petition filed by Yes Bank before NCLT; Stocks trade flat

The company has communicated to Yes Bank that such an action of YBL will be tantamount to breach of the said Notice issued by the Crime Branch.

November 23, 2021 9:48 IST | India Infoline News Service
Dish TV India Limited informed the exchanges Monday that it has been served with an advance copy of a Petition, proposed to be filed by Yes Bank Limited (YBL) before the National Company Law Tribunal (NCLT), Mumbai Bench.

As per the information available with the company, the Petition has yet not been filed.

Further, in compliance with the Notice dated November 5, 2021, issued by the Office of Crime Branch, Gautam Buddh Nagar in respect of an investigation being conducted by them. The company has communicated to Yes Bank that such an action of YBL will tantamount to breach of the said Notice issued by the Crime Branch.

Vide the said Notice, Dish TV has been informed that Crime Branch has issued a Notice to YBL), restricting YBL from dealing in and/or exercising any rights over 44,53,48,990 Equity shares of the Company held by YBL, till completion of the investigation or till further orders.

Further, the Crime Branch had also directed that the company shall ensure compliance of the above direction, till completion of the investigation or till further orders.

In May last year, Yes Bank invoked promoters’ pledged shares in Dish TV to own 25.63% stake in the DTH company. YBL had called for holding an extraordinary general meeting (EGM). Through the EGM, Yes Bank wanted to appoint new independent directors and remove MD and Director Jawahar Lal Goel.

At around 9.50 am, Dish TV India Ltd. was trading flat at Rs17.40 per piece on the BSE. Yes Bank Ltd was trading at Rs12.57 per piece up Rs0.02 or 0.16% from its previous closing of Rs12.55 per piece on the BSE.

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