Yes Bank acquires 24 per cent stake in Dish TV
- Yes Bank said it has acquired over 24 per cent stake in Dish TV India Ltd by the invocation of pledged shares due to debt default by the DTH service provider and other group firms.
- After the invocation of pledged shares, Yes Bank has acquired 44,53,48,990 equity shares.
- Yes Bank said there was default/breach of terms of credit facilities sanctioned by it to Essel Business Excellence Services, Essel Corporate Resources, Living Entertainment Enterprises, Last Mile Online, Pan India Network Infravest, RPW Projects Private, Mumbai WTR and Pan India Infraprojects.
- The companies are part of the Subhash Chandra-led Essel Group.
- Dish TV India Ltd had 23.95 million subscribers and a consolidated total income of Rs 6, 218 crores as on March 31, 2019.
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