Mumbai: In the setback to yes the bank moved to the management of Otust Dism, Gautam Police Buddh Nagar has issued a notification to the lender, asking not to deal with broadcasting shares or running any rights in connection with them.
News about police actions was directed to the stock market by Dishtv, who said that it had been told about this action by the Branch Office of Crime, Gautam Buddh Nagar.
It is not clear whether the bank can use voting rights based on this notification.
Responding to the request from TOI, said Bank spokesman, “As a policy problem, we do not return to the specific problems and actions of the client taken by the bank.
However, the bank does not receive such notification from any authority at this time.” Notification comes on When Yes Bank, which holds 25.6% of shares in Dishtv, is trying to arrange shareholder meetings to overthrow the current management led by Jawahar Goel and four independent directors.
This is the second high profile case where the police have intervened in connection with lenders.
Earlier this month, the former Chairman of the SBI Pratip Chaudhuri was arrested by Jaisalmer police for the sale of Defaugter’s assets to the company’s reconstruction asset.
In the notification, the crime branch told the company that he had published it under section 102 of the criminal procedure code, 1973, until yes the bank limit it from dealing and / or exercising every right of 44.5 crore company shares to finish investigations or up to more orders carry on.
Has asked the company to ensure orders compliance.
Section 102 is related to the power of the police to seize property that might be suspected or allegedly stolen, or which can be found in a suspicious state.