Notices sent to Dish TV, YES Bank; UP Police freezes bank’s stake in DTH firm

The local police have also formed a special investigation team under the direction of the commissioner of police, Gautam Buddha Nagar, to investigate an FIR lodged on September 12, 2020, on a complaint by Subhash Chandra, chairman of the Essel Group.

The notice was issued on November 5, by Girish Prasad Raj, the in-charge inspecting officer of enquiry. As per the notice, a copy of which was accessed by ET, the police have taken custody of the 44,53,48,990 shares of Dish TV (amounting to over 24.19% stake), which are currently with YES Bank.

After the notice, Yes Bank has been restrained from any transaction of these shares or exercising any rights as a shareholder till further orders or until completion of the investigation.

Replying to an ET query, a YES Bank spokesperson said, “As a matter of policy, we don’t revert on client-specific issues and actions being taken by the bank. However the bank is not in receipt of any such notice from any authority at this point in time.”