Supreme Court maintains order in Ja Bank-Dish TV case

A divisional bank of the Bombay High Court on Wednesday reserved its order in a petition after one bank failed to restrict Yes Bank from voting at the extraordinary general meeting of Dish TV India (EGM).

World Crest Advisors, a promoter entity of Dish TV, had moved the branch bank on Monday after a single Supreme Court judge refused to provide temporary relief trying to prevent Yes Bank from voting on the EGM of Dish TV. The satellite operator’s EGM is scheduled for June 24.

The sole judge had in his order rejected an ad interim petition seeking to restrict Catalyst Trusteeship (a security curator for the shares promised to Yes Bank) and Yes Bank from participating and voting in the EGM.

Ja Bank, which is the largest shareholder in Dish TV with a stake of 25.63%, is embroiled in a legal tangle with the latter.

According to the EGM announcement issued last month, Dish TV had sought the approval of shareholders for reappointment of Jawahar Lal Goel as its director (from April 1, 2022 to March 31, 2025), reappointment of Anil Kumar Dua as full-time director (of 26 March 2022 to 25 March 2025) and Rajagopal Chakravarthi Venkateish as a non-executive independent director.

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