Home / Companies / News /  HC asks Dish TV to file reply to Yes Bank’s plea in EGM case

MUMBAI : The Bombay High Court on Tuesday asked Dish TV India to file a reply to a petition filed by its largest shareholder, Yes Bank, urging the firm to convene an extraordinary general meeting of shareholders.

In a plea filed on Monday, Yes Bank had sought the high court’s direction to the Mumbai bench of National Company Law Tribunal (NCLT) to consider the private lender’s application expeditiously. Yes Bank, which owns 24.78% in Dish TV, had moved the NCLT in November 2021.

The bank had initiated legal proceedings following allegations of irregularities in corporate governance issues at Dish TV and had recommended the names of seven directors for a complete reconstitution of the company’s board.

The tribunal, however, did not pass an order on the matter for over five months, prompting Yes Bank to approach the high court, which will hear the matter on 3 October.

Yes Bank’s move, seeking the removal of Jawahar Goel as the managing director, was also supported by 78.9% of the company’s shareholders.

This will pave the way for Yes Bank to become a part of Dish TV’s board. On Monday, Dish TV informed the exchanges that Goel has put in his resignation.

ABOUT THE AUTHOR

Priyanka Gawande

Priyanka Gawande is a senior legal correspondent at Mint. She has worked as legal reporter for four years with both television and digital mediums. Based in Mumbai, she reports on disputes across sectors including banking, corporates and finance. This also includes insolvency and bankruptcy cases and intellectual property rights (IPR) litigation. Her focus also comprises tracking capital markets and disputes relating to securities law. Previously, Priyanka worked with Informist Media for 2.5 years covering major insolvency and bankruptcy cases and corporate developments. She started her career in journalism with Business Television India (BTVi) where she reported on primary markets, banking, finance and insurance companies.
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