Yes Bank acquires 24.19% of Dish TV by invoking pledged shares

MUMBAI: Yes Bank has acquired 44.54 crore equity shares of Dish TV constituting 24.19 per cent of the paid-up share capital of the company pursuant to invocation of pledge of shares.

The invocation of shares of Dish TV, an Essel Group company, has been necessitated by the default/breach of terms of credit facilities sanctioned by Yes Bank to the Essel group companies such as Essel Business Excellence Services Ltd, Essel Corporate Resources Pvt Ltd, Living Entertainment Enterprises Pvt Ltd, Last Mile Online Ltd, Pan India Network Infravest Ltd, RPW Projects Pvt Ltd, Mumbai WTR Private Ltd & Pan India Infraprojects Pvt Ltd.

Last month also lenders had invoked pledged share of several Subhash Chandra-led Essel group entities, including Zee Media Corporation, Dish TV, Siti cable and Zee Learn.
Dish TV India Ltd (DTIL) is a direct to home entertainment service provider.

Dish TV has a bandwidth capacity of 1,422 MHz with an ability to deliver more than 655 channels and services including 40 audio channels and 70 HD channels and services.