Essel Group issues statement denying rumours related to Dish TV

The group has categorically denied speculations of shares being released from the lenders at a lower price and sold to third party investors at higher price points

e4m by exchange4media Staff
Updated: Apr 22, 2021 4:37 PM
Essel Group

Essel Group (Subhash Chandra Group) has issued an official statement denying all the rumours and speculations pertaining to the public listed entity Dish TV India Ltd.

"The Group also wishes to deny 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," Subhash Chandra Group Official Spokesperson Ronak Jatwala said in a statement.

He further said that 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 the 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.

The Group has also thanked Jawahar Goel, Promoter & Managing Director of Dish TV India Ltd for extending 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 Shri. Jawahar Goel and his family. The Group also wishes to iterate that Shri. Jawahar 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 statement added.

The Group clarified that Subhash Chandra is not the promoter of Dish TV India Ltd., neither does he hold any management control in the said Company. "The Group wishes Jawahar Goel all the success in his planned business operations for the Company, which are aimed towards creating value for its esteemed shareholders. The above clarification is in the interest of all the stakeholders of mentioned listed entity."

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