on Apr 23, 2021)Mumbai:
Dish TV promoter & MD Jawahar Goel has offered the company’s shares as security for credit facilities availed by his elder brother and Zee Entertainment Enterprises (Zee) founder Subhash Chandra, the latter’s office confirmed.
The Zee chairman emeritus issued a statement following rumours that Goel could lose grip over Dish TV on possible loan defaults by Chandra. Chandra’s office claimed that loans have been repaid and expects the pledge over Dish TV shares to be released. Goel owns 7.3% of Dish TV, a leading direct-to-home (D2H) company in India, and had offered a substantial portion of that as security for loans raised by Chandra.
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Subhash Chandra says no stake in Dish TV, confident of returning pledged shares to brother Jawahar Goel
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Subhash Chandra says no stake in Dish TV, confident of returning pledged shares to brother Jawahar GoelBy
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Former ZEE chairman said Goel had given him equity in Dish TV as security for the credit facilities availed by Subhash Chandra Group.
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Chandra reiterated that Goel, as the rightful owner of the equity stake in Dish TV, had only “stepped forward to offer support, and has no financial stress whatsoever in his personal capacity.”
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MUMBAI: Amid speculations that Subhash Chandra is looking at selling promoter family’s pledged shares in
Jawahar Goel s pledged Dish TV shares will be returned soon: Subhash Chandra
April 22, 2021
As security for credit facilities availed by Subhash Chandra Group
Subhash Chandra Chairman of Essel group of companies on Thursday said that shares pledged by Jawahar Goel will be returned soon.
Jawahar Goel, Promoter & Managing Director of Dish TV India Ltd. had offered a substantial portion of his equity in Dish TV as security for the credit facilities availed by Essel Group. The Group is also extremely thankful to Jawahar Goel, Promoter & Managing Director of Dish TV India Ltd. Goel 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. The Group is confident and fully committed to return the mentioned security cover back to Jawahar Goel and his family, said a statement from Subhash Chandra s office without adding a timeline to when the shares will be returne