Bombay HC dismisses Dish TV’s plea seeking to prohibit YES Bank from voting at EGM
World Crest argued that YES Bank is not a party to the pledged deed agreement therefore it has no legal status for voting at the EGM.
On Thursday, June 23, a division bench of the Bombay High Court rejected a petition filed by Dish TV’s promoter group, World Crest Advisors LLP seeking to restrict YES Bank Ltd from voting at the company’s extraordinary general meeting (EGM). With this YES Bank will be voting at the EGM that is scheduled to take place on June 24.
The division bench was led by Justice Gautam S Patel & MJ Jamdar. “World Crest has not made any case. The single judge is right in rejecting the ad-interim relief restraining Yes Bank and Catalyst Trusteeship from voting in the EGM on 24 June, the appeal is dismissed,” the HC affirmed.
World Crest argued that YES Bank is not a party to the pledged deed agreement therefore it has no legal status for voting at the EGM. The legal tussle between YES Bank and Dish TV is ongoing since January of this year. Dish TV had filed a petition to prevent YES Bank from voting at the EGM.