• About
  • Contcat Us
Monday, January 30, 2023
Justice Bench
No Result
View All Result
  • Login
  • Register
  • Home
  • Articles
  • Online Internship
  • Forums
  • Home
  • Articles
  • Online Internship
  • Forums
No Result
View All Result
justice bench
No Result
View All Result
Home News

Yes Bank requests guidance from the Bombay High Court for the NCLT to resolve an application seeking the EGM of DishTV – know more

By Justuce Bench by By Justuce Bench
September 21, 2022
in News
Reading Time: 2 mins read
0
0
Yes, Bank is permitted to attend the DishTV EGM; Bombay High Court

Yes, Bank is permitted to attend the DishTV EGM; Bombay High Court

0
SHARES
5
VIEWS

The National Company Law Tribunal (NCLT), Mumbai, has been requested to hear and decide Yes Bank’s application seeking DishTV to call an extraordinary general meeting by the Bombay High Court (EGM). DishTV’s largest shareholder, Yes Bank, requested the convening of an EGM by contacting the NCLT in accordance with Section 98 of the Companies Act. This application had been pending for almost a year.

Angered by this, the Bank filed a lawsuit with the High Court, claiming that despite holding the largest stake in DishTV (25.63 percent of the company’s share capital), it was unable to call an EGM.

The same was seriously undermining Yes Bank’s rights and interests, resulting in irreparable harm, and had the effect of defeating the main reason for bringing the case with NCLT. DishTV was given time to respond to the petition by a bench of Justices SV Gangapurwala and RN Laddha, and the matter was scheduled for hearing on October 3.

READ ALSO

The Supreme Court Collegium recommends advocate Neela Gokhale as judge of the Bombay High Court

The Supreme Court Collegium recommends the appointment of judges to the Gauhati and Manipur High Courts

The loans from Yes Bank to several Essel Group companies totaled 5,270 crore and were backed by pledges of DishTV stock in the bank’s favour. When Essel failed to repay the debt, Yes Bank invoked the pledge to take legal and beneficial ownership of 47,19,13,990 shares.

According to Yes Bank, DishTV’s Board had been acting in a way that was detrimental to the interests of its major shareholders. As a result, Yes Bank demanded an EGM in September 2021 for the Board’s reconstitution. DishTV informed the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) of the board meeting decision it made in October to not call for the EGM.

In order to tell the DishTV Board that the requisitioned EGM will be called and held, Yes Bank wrote to them on October 16 in the course of exercising its rights as the largest shareholder. The corporation replied that they were submitting the letter for review and did not communicate with Yes Bank again after that.

As a result, the Bank submitted a request to the NCLT asking for instructions on how to direct the firm to hold an EGM. DishTV was asked by NCLT to file a response on October 27; however, it did not. The application was scheduled for hearing in January and February, and after being flagged for an urgent listing, it was scheduled for hearing in April, May, June, July, and even September.

DishTV convened an Annual General Meeting (AGM) in December 2021 and an EGM in June 2022, continuing to deny Yes Bank its legal right to call an EGM.

According to Yes Bank, the meetings also showed that the majority of the members have lost all faith in the current Board.

Tags: Bombay high courtDish TVExtraordinary General MeetingNational Company Law TribunalYES Bank
ShareTweetSendShare

Related Posts

Bombay high court
News

The Supreme Court Collegium recommends advocate Neela Gokhale as judge of the Bombay High Court

January 11, 2023
The Supreme Court Collegium recommends the appointment of judges to the Gauhati and Manipur High Courts
News

The Supreme Court Collegium recommends the appointment of judges to the Gauhati and Manipur High Courts

January 11, 2023
Supreme Court Collegium reiterates Nagendra Ramachandra Naik’s appointment as a Karnataka High Court judge for the third time.
News

Supreme Court Collegium reiterates Nagendra Ramachandra Naik’s appointment as a Karnataka High Court judge for the third time.

January 11, 2023
judges appointment to Andhra Pradesh and Karanataka High court
News

Collegium proposes the appointment of two judicial officers as judges of the high courts of Andhra Pradesh and Karnataka.

January 11, 2023
The Uttarakhand High Court's order to the CBI to investigate former CM Trivendra Rawat was quashed by the Supreme Court.
News

The Uttarakhand High Court’s order to the CBI to investigate former CM Trivendra Rawat was quashed by the Supreme Court.

January 5, 2023
Madras-HC-uapa
News

Can the blind guide the blind? The Madras High Court orders the TN Judicial Academy to provide judges with UAPA and remand training.

December 30, 2022
google news
google news

POPULAR NEWS

Justices DY Chandrachud, AS Bopanna, and Bela M. Trivedi,

Execution of Document not to be considered based on Admission of Sign on Document Rules Supreme Court

May 12, 2022
DIFFERENCE BETWEEN ADVOCATE AND LAWYER

WHAT IS THE DIFFERENCE BETWEEN AN ADVOCATE AND A LAWYER?

June 4, 2022
La Milano Pizzeria restrained  from representing previous association with La Pino'z - know more

La Milano Pizzeria restrained  from representing previous association with La Pino’z – know more

May 20, 2022
Why does Sequoia Capital terminate connections with Sandeep Kapoors Algo Legal? threats of ED searches, arm-twisting, and more

Why does Sequoia Capital terminate connections with Sandeep Kapoors Algo Legal? threats of ED searches, arm-twisting, and more

June 6, 2022
jug jugg jeeyo

Copyright infringement | Jugjugg Jeeyo movie stay refused by Ranchi court

June 25, 2022

Tags

advocate Algo Legal Allahabad HC Allahabad High Court Anil Deshmukh anticipatory bail Appointment of Judges bail Bombay high court calcutta high court central government cji Collegium Collegium Recommendations defamation delhi high court divorce Enforcement Directorate Gujarat High court Gyanvapi Mosque high court judges IPR Judicial Appointments justice bench karnataka high court kerala high court latest judgements legal news madras high court murder Nawab Malik patna high court pil pocso act public interest litigation Rouse Avenue Court Sequoia Capital study material supreme court Supreme Court Collegium supreme court of india UAPA Union Law Ministry Uttar Pradesh varanasi court

The Supreme Court Collegium recommends advocate Neela Gokhale as judge of the Bombay High Court

by By Justuce Bench
January 11, 2023
0
Bombay high court
News

Advocate Neela Gokhale was today recommended for promotion as judge of the Bombay High Court by the Supreme Court Collegium.

Read more

The Supreme Court Collegium recommends the appointment of judges to the Gauhati and Manipur High Courts

by By Justuce Bench
January 11, 2023
0
The Supreme Court Collegium recommends the appointment of judges to the Gauhati and Manipur High Courts
News

On Tuesday, the Supreme Court Collegium proposed the nomination of judges to the Gauhati and Manipur High Courts.

Read more

Supreme Court Collegium reiterates Nagendra Ramachandra Naik’s appointment as a Karnataka High Court judge for the third time.

by By Justuce Bench
January 11, 2023
0
Supreme Court Collegium reiterates Nagendra Ramachandra Naik’s appointment as a Karnataka High Court judge for the third time.
News

On Tuesday, the Supreme Court Collegium decided to confirm the appointment of attorney Nagendra Ramachandra Naik as a Karnataka High...

Read more

Collegium proposes the appointment of two judicial officers as judges of the high courts of Andhra Pradesh and Karnataka.

by By Justuce Bench
January 11, 2023
0
judges appointment to Andhra Pradesh and Karanataka High court
News

Tuesday, the Supreme Court Collegium recommended that two judicial officers be appointed as judges of the Andhra Pradesh and Karnataka...

Read more

About

Justice Bench is one of the fastest growing news legal portal in India, for latest Latest Legal News india, Supreme Court judgement updates, High Courts Judgments updates,Law Firms News in india, Law School News, Latest Legal News india visit us.

Follow us

google news
google news

Recent Posts

  • The Supreme Court Collegium recommends advocate Neela Gokhale as judge of the Bombay High Court

Popular News

  • DIFFERENCE BETWEEN ADVOCATE AND LAWYER

    WHAT IS THE DIFFERENCE BETWEEN AN ADVOCATE AND A LAWYER?

    0 shares
    Share 0 Tweet 0
  • The Supreme Court Collegium recommends the appointment of judges to the Gauhati and Manipur High Courts

    0 shares
    Share 0 Tweet 0
  • La Milano Pizzeria restrained  from representing previous association with La Pino’z – know more

    0 shares
    Share 0 Tweet 0

© 2022 JusticeBench  |  Privacy Policy  | Terms of Use

No Result
View All Result
  • Home
  • Articles
  • Online Internship
  • Forums

© 2022 JusticeBench  |  Privacy Policy  | Terms of Use

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In