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Subhash Chandra distances himself from Dish TV, denies speculations about share transfer

Essel Group says Chandra is not the promoter of Dish TV India Ltd., neither does he hold any management control in the said company

Subhash Chandra

Subhash Chandra, Chairman, Essel Group (Subhash Chandra Group), has denied all the rumours and speculations pertaining to the public listed entity Dish TV India Ltd.

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The group also denied all the speculations and rumours, pertaining to the shares being released from the lenders at a lower price and sold to third party investors at higher price points. “These speculations are absolutely baseless and incorrect, and the group has no such intentions whatsoever,” Essel Group said in a press statement.

The statement clarified that Chandra is not the promoter of Dish TV India Ltd., neither does he hold any management control in the said company.

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“The group has been consistently focused on its commitment towards its lenders and truly values the priceless support received during the turbulent phase, recognising their trust and belief. With their undeterred faith and support, the Group has successfully resolved majority of the issues and is on a steady path to iron out the limited pending issues. The group wishes to express gratitude towards all its lenders and continues to seek their support in this journey,” it said.

The group said that Jawahar Goel, Promoter & Managing Director of Dish TV India, has extended support, in the form of a substantial portion of his equity in the mentioned listed entity, as security for the credit facilities availed by Subhash Chandra Group.

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“The group is confident and fully committed to return the mentioned security cover back to Goel and his family. The group also wishes to iterate that Goel as the rightful owner of the equity stake in Dish TV India Ltd had only stepped forward to offer support, and has no financial stress whatsoever in his personal capacity,” the group added.

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