In a legal tussle between YES Bank and DishTV, Bombay High Court has declined to pass an interim order barring YES Bank from voting in the shareholders’ meeting of Dish TV. The plea was filed by the promoters of Dish TV for seeking an injunction restraining the bank from participating in an Extraordinary General Meeting. The EGM has been called to seek approval for reappointment of Jawahar Goel as Managing Director from April 1, 2022 to March 31, 2025. 

YES Bank, along with IDBI Trusteeship Services, owns 25.63 per cent stake in Dish TV through invocation of pledged shares. The promoters of Dish TV had cited a recent Supreme Court (SC) order, in a case between PTC India Financial Services and Venkateswarlu Kari where the top court said lenders or pledgees are not owners of shares and cannot exercise voting rights once the pledged shares are invoked. 

YES Bank has been seeking shareholders nod for revamping the board of the company.

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