Dish TV promoter company files petition in Bombay HC, urges to halt share transfer

New Delhi: On the topic of Dish TV's share transfer, the Promoter Group Company has filed an application with the Bombay High Court. The company wanted the HC to halt any stock transfers until the hearing was completed.

The company has asked the Bombay High Court to halt any attempt to exert control over Dish TV in its case. The promoter firm of Dish TV, JSGG Infra Developers LLP, has filed the application.

Request for a stay on the transfer of shares until the hearing is completed.

The company has requested that the share transfer of Dish TV be halted until the outcome of the hearing.

Dish TV had already filed a complaint with SEBI against Yes Bank prior to filing this application. Yes Bank has not published an open bid, according to the company's letter to SEBI, which is a violation of acquisition guidelines.

Yes Bank is attempting to take control of Dish TV's board of directors, according to Dish TV, by proposing a shareholder EGM to make changes to the board. However, till recently, it has not made any open offer in this area.

The Ministry of Finance, Yes Bank, and the Securities and Exchange Board of India (SEBI) have been included as parties to the dispute in an application filed with the Bombay High Court. Exchanges, Catalyst Trusteeship, and Dish TV have also been added to the list of parties.

Catalyst Trusteeship and Yes Bank have been the subject of an investigation. Aside from that, IDBI Trusteeship has been the subject of an investigation.

The promoter firm claims in its application that Yes Bank is attempting to seize control of Dish TV and that this must be halted.