Last checked at 29 Dec 2021 07:00
December 24, 2021
London Stock Exchange plc.
10 Paternoster Square
London
EC4M 7LS
Subject: Disclosure of writ petition served on the Company
Dear Sir/Madam,
We wish to inform you that Dish TV India Limited ('the Company'), on December 24, 2021, has been served with a writ petition (WP (Stamp) No. 25881/ 21) filed by JSGG Infra Developers LLP ('Petitioner'), an entity forming part of the promoter and promoter group of the Company, at the High Court of Judicature at Bombay. The Respondents named in the writ petition are - 'Union of India (through Secretary, Department of Financial Services, Ministry of Finance)' (Respondent 1), 'Securities and Exchange Board of India' (Respondent 2), 'Catalyst Trusteeship Limited' (Respondent 3), 'Yes Bank Limited' (Respondent 4), 'IDBI Trusteeship Services Limited' (Respondent 5), 'Dish TV India Limited (Respondent 6), 'National Stock Exchange of India Limited' (Respondent 7) and 'BSE Limited' (Respondent 8).
The writ seeks the indulgence of the High Court under Article 226 of the Constitution of India, in respect of the violations of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ("Takeover Code").
In the petition, the Petitioner has, inter-alia, prayed for following directions against SEBI - Respondent No. 2:
(a) to initiate necessary investigations against Respondent No. 3-5;
(b) to direct Respondent No. 3-5 to not exercise any voting rights / rights attached to the shares acquired in violation of Takeover Code or to direct the said Respondents to cease and desist from exercising any control over Respondent No. 6;
(c) to issue appropriate directions to the Respondent No. 6 or any depository, to not give effect to any transfer of said shares, and also directions as mentioned in (a) and (b) above against Respondent No. 3-5 pending the hearing and disposal of the Petition.
Further, Petitioner has also prayed for stay of the operation, implementation and the effect of acquisition made by Respondent No. 3-5 and to direct Respondent No. 2 to act on the complaint made by Respondent No. 6.
The Company shall consider and undertake necessary steps to be taken in the matter.
This is for your kind information and record.
Thanking You,
Yours truly,
For Dish TV India Limited
Ranjit Singh
Company Secretary and Compliance Officer
Membership No. A15442