Dish TV: Bombay High Court dismisses Dish TV promoter’s lawsuit against YES Bank

Bombay High Court on Thursday dismissed the appeal filed World Crest Advisorsa promoter of a legal entity that challenged the decision of the unified collegium of the court.

Panel of Judges G.S. Patel and M.J. Jamdara, in her oral ruling, noted that the arguments put forward by the company do not correspond to a fair basis.

“In our opinion, a fair consideration world coat of arms I didn’t understand the case, ”the court’s oral ruling says.

On Monday, World Crest Advisors appealed to a panel of judges challenging the Bombay High Court’s single decision.

Last week on Friday, a single bench denied a promoter’s request for a containment order. DA Bank from participating in or voting at the Extraordinary General Meeting of the Company (EGM) on June 24.

RECOMMENDEDSTORIES FOR YOU



In his ruling, the single judge dismissed the motion, stating that the case for “interim relief on the basis of the arguments” before him had not been considered.

The case in the family of promoters led by

Chairman and Managing Director Jawahar Goel and YES Bank, the company’s lender, on corporate governance and fundraising plans.

YES Bank holds a 24.19% stake in Dish TV based on the use of pledged shares (through Catalyst Trustee) under certain loan agreements with several Subhash Chandra-owned Essel group companies.

The promoters of Dish TV claim that they were neither the borrowers nor the guarantors of any loans from YES Bank. Senior Advisors Darius Khambata and J.P. Sen along with Gati Prakash from Cyril Amarchand Mangaldas appear for YES Bank and Catalyst Trusteeshipand Senior Associate Navroz Servai speaks at World Crest with ANB Legal.

BSE-listed Dish TV is represented by Senior Attorney Aspi Chinoy and Rugved Mor of L&L Partners.