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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
Dish TV on Monday said that the disclosures filed by Yes Bank with the stock exchanges over the 24.19% acquisition in Dish TV contained “incorrect facts.” The second largest Direct-to-Home (DTH) operator in India in a filing with the stock exchanges said that it has not defaulted on any payment obligation to Yes Bank. Crucially, the DTH operator said that “no shares have been pledged by the Promoters of Dish TV or any other entity for the loans availed by Dish TV from Yes Bank.” Further, Dish TV said that the Yes Bank disclosure on shares acquired on invocation of pledge is an “incorrect statement” as the DTH operator has not pledged the shares.
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Dish TV Requests Yes Bank to Issue a Corrigendum
India’s fourth largest private sector bank, Yes Bank on Friday said that it has acquired 24.19% stake in Dish TV following invocation of shares pledged by the DTH operator. In its filing to the stock exchanges, Yes Bank said that it has invoked 44.53 crores of pledged shares due to debt default by Dish TV and other Essel group firms.
Essel Business Excellence Services, Essel Corporate Resources and Living Entertainment Enterprises are some of the Essel group firms that were listed to have defaulted on the credit facilities sanctioned by Yes Bank.
Dish TV on Monday requested Yes Bank to issue a corrigendum to its disclosure issued on Friday.
