Dish TV India Limited has informed the Exchange that the Company Petition No. 359 of 2021, filed by JC Flowers Asset Reconstruction Private Limited (original applicant being Yes Bank Limited) ( Petitioner ) against the Company, before the Hon ble National Company Law Tribunal, Mumbai, has been withdrawn by the Petitioner at the hearing today.The said Petition was filed under Sections 98 100 of the Companies Act, 2013, inter alia seeking directions for convening an Extraordinary General Meeting of the Company.
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JC Flowers Asset Reconstruction Private Limited (originally filed by Yes Bank Limited) has withdrawn Company Petition No. 359 of 2021 against Dish TV India Limited at the NCLT Mumbai hearing. The petition was filed under Sections 98-100 of the Companies Act, 2013, seeking directions to convene an Extraordinary General Meeting (EGM) of the company. The NCLT order is yet to be uploaded. This withdrawal removes a pending corporate governance challenge that had been active since 2021.
Positive for the company as the legal petition seeking to force an EGM has been withdrawn, reducing uncertainty and governance-related risks for shareholders.