DTH
Subhash Chandra in talks with JC Flowers to buy back Dish TV stakes
Mumbai: Essel Group chairman Subhash Chandra is reportedly in talks with JC Flowers Asset Reconstruction Co. (ARC) to buy back his family’s shares in Dish TV India.
According to media reports, Chandra has also put forth a proposal to buy other assets, which includes shares in Zee Learn and a bungalow in central Delhi. The Essel Group Chairman has reportedly proposed to pay JC Flowers Rs 1500 crore for these assets.
Among the things Chandra has moved to regain are shares of Zee Learn and three properties including a Rs 2.8 crore bungalow in central Delhi. It is, however, unclear how Chandra will raise Rs 1,500 crore given that he still has to pay many creditors of the Essel Group.
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MUMBAI: In a breather for Dish TV India, JC Flowers Asset Reconstruction has withdrawn its petition before the National Company Law Tribunal seeking directions to convene an extraordinary general meeting.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.
