The bank's action follows a Dish TV statement to the stock exchanges that said the company had, on November 6, received a notice issued by the Crime Branch, Gautam Budh Nagar (Noida), in respect of an investigation being conducted by the cops.
“The company has been informed that the Crime Branch has issued a notice under Section 102 of the Cr. P.C, 1973, to YES Bank, restricting YBL from dealing in and/or exercising any rights over 44,53,48,990 equity shares of the company held by YBL till completion of the investigation or till further orders, the company said. YES, Bank did not answer emails or text messages, seeking comments. A Dish TV spokesperson declined to comment.
YES Bank shares were frozen by the UP police following a complaint filed by the founder of Essel group Subhash Chandra against the previous management of the bank over a merger deal brokered by the bank between Videocon D2H and Dish TV.
This story is from the November 10, 2021 edition of Business Standard.
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This story is from the November 10, 2021 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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