Mumbai: Yes Bank is understood to plan legal actions against the order of Gautam Buddh Police Nagar prohibit personal lenders from dealing with or using DISCHTV shares rights.
This is part of the bank’s efforts to recover loans to the group.
According to legal experts, the bank can seek compensation from Allahabad HC against the police command.
The police have issued a notification based on Article 102 of the Criminal Procedure Code, which gives them the power to seize the wealth allegedly stolen or there is suspicion.
Notifications issued in cases based on complaints by Subhash Chandra, Chair of the Essel Group.
FIR is considered to have been submitted in September 2020.
Private banks, which are the largest shareholders in Dishtv with share ownership of more than 24%, have tried to overthrow management.
The bank has acquired shares in announcers after calling for an appointment on shares offered by the promoter Essel Group.
The promise called after the promoter repaid the loan.
The Essel Group, which has come under pressure, managed to extract the Standstill agreement from other creditors.
Yes the bank continues to pursue recovery and move resolutions for Jawahar Goel’s CEO and other independent directors.
However, last Saturday, Dishtv information on the stock market that the police up had issued a notification to the bank asking not to deal with Dishtv shares or using any rights in their terms.
Yes the bank plans legal action on police orders
