Bombay High Court rejects Dish TV promoters’ plea against Yes Bank

The Bombay Top Courtroom on Friday rejected promoter International Crest Advisors‘ plea to restrain Sure Financial institution from vote casting on the corporate’s ordinary normal assembly on June 24.

The advance is the newest within the dispute between Dish TV chairman and managing director Jawahar Goel and Sure Financial institution, a lender to the direct-to-home broadcaster, over company governance and fundraising plans.

holds 24.19% stake within the corporate.

Justice AK Menon rejected the petition as ad-interim aid looking for to restrain Catalyst Trusteeship and Sure Financial institution from collaborating in and/or exercising any proper, together with vote casting rights, on the EGM. Catalyst Trusteeship is the safety trustee for the stocks that have been pledged to Sure Financial institution.

“Individually no case is made out for ad-interim aid at the foundation of the arguments complex sooner than me,” he stated within the order. “The assessment petition remains to be pending. Contentious problems had been raised as to the criminal capability of the financial institution, for the reason that applicant has contended that the financial institution isn’t a nominee however an alleged transferee. The applicant has no longer made out a prima facie case neither is the stability of comfort favouring grant of aid. No irreparable hurt could be led to to the plaintiff/applicant. There is not any instance to as soon as once more imagine grant of aid.”

The plaintiff had additionally sought permission to workout their vote casting rights with recognize to pledged stocks.

International Crest Advisors is now prone to problem the order in entrance of a department bench, stated resources in Dish TV.

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Editorial Staff
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