Home / News / India /  Subhash Chandra denies having stake in Dish TV

New Delhi: Former chairman of Zee Entertainment Enterprises (ZEE) Subhash Chandra said on Thursday that he neither owns any stake in DTH (direct-to-home) company Dish TV, nor does he have any management control of the firm. The clarification came amid rumours of Chandra looking at selling promoter family’s pledged shares in the firm.

“The (Essel) Group is extremely thankful to Jawahar Goel, promoter and managing director of Dish TV India Ltd. Goel has extended support, in the form of a substantial portion of his equity in the mentioned listed entity, as security for the credit facilities availed by Subhash Chandra Group. The Group is confident and fully committed to return the mentioned security cover back to Jawahar Goel and his family," a statement on behalf of Ronak Jatwala, official spokesperson of the Subhash Chandra Group said.

“The Group also wishes to iterate that Jawahar Goel, as the rightful owner of the equity stake in Dish TV India Ltd., had only stepped forward to offer support, and has no financial stress whatsoever in his personal capacity. Subhash Chandra is not the promoter of Dish TV India Ltd., neither does he hold any management control in the said company," it added.

According to a report by CNBC, Goel has offered a sizable part of his shares in Dish TV as security for the credit facilities availed by brother Chandra. Goel now owns 30.37% shares in DTH entertainment service provider Dish TV.

“The Group also wishes to deny all the speculations and rumours, pertaining to the shares being released from the lenders at a lower price and sold to third party investors at higher price points. These speculations are absolutely baseless and incorrect, and the Group has no such intentions whatsoever," the statement added.

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