DTH
Subhash Chandra denies rumors related to Dish TV India
KOLKATA: Dish TV India promoter and managing director Jawahar Goel has offered a substantial portion of his equity in the DYH operator as security for the credit facilities availed by Essel Group (Subhash Chandra Group). The group will return the security cover soon, Subhash Chandra Group official spokesperson Ronak Jatwala said in a statement.
He went on to add that the Group is also extremely thankful to Goel. “Goel has extended support, in the form of a substantial portion of his equity in the mentioned listed entity (Dish TV), as security for the credit facilities availed by Subhash Chandra Group,” he noted.
“The Group is confident and fully committed to return the mentioned security cover back to Jawahar Goel and his family. 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,” the statement added.
Essel Group has also denied 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 company has no such intentions whatsoever, it claimed.
“The Group has been consistently focused on its commitment towards its lenders and truly values the priceless support received during the turbulent phase, recognising their trust and belief. With their undeterred faith and support, the Group has successfully resolved majority of the issues and is on a steady path to iron out the limited pending issues,” Jatwala added.
DTH Operator
JC Flowers withdraws NCLT plea against Dish TV over EGM demand
Move eases pressure on DTH firm as long-running shareholder dispute cools
MUMBAI: In a breather for Dish TV India, JC Flowers Asset Reconstruction has withdrawn its petition before the National Company Law Tribunal seeking directions to convene an extraordinary general meeting.
The development was disclosed by Dish TV in a regulatory filing, confirming that the petitioner chose to withdraw the case during a hearing at the Mumbai bench of the tribunal. A detailed order from the bench is still awaited.
The petition, originally filed under Sections 98 to 100 of the Companies Act, 2013, sought to push for an extraordinary general meeting to address governance issues at the company. The case had its roots in a prolonged shareholder tussle dating back to 2021, when Yes Bank, then the largest shareholder, was at odds with the promoter group led by Subhash Chandra over board reconstitution.
JC Flowers had stepped into the picture as an assignee of Yes Bank’s stressed assets, effectively continuing the legal push initiated earlier. The withdrawal now signals a pause, if not a closure, to that chapter of dispute.
While the reasons behind the withdrawal have not been formally detailed, the move reduces immediate legal pressure on Dish TV, which has been navigating both operational and regulatory challenges in recent years.
For now, the focus shifts back to the company’s business fundamentals, even as the legal dust settles, at least temporarily, on one of its more closely watched shareholder battles.
