Essel Group clears the air on rumours related to Dish TV equity

The office of Subhash Chandra, Chairman, Essel Group (Subhash Chandra Group), has issued an official statement, wherein it has denied all the rumours and speculations pertaining to the public listed entity – Dish TV India Ltd.

In the statement issued, the Group thanked Jawahar Goel, Promoter & Managing Director, Dish TV India Ltd for extending his 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. Shri 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 Shri Jawahar Goel all the success in his planned business operations for the Company, which are aimed towards creating value for its esteemed shareholders,” said Ronak Jatwala, Official Spokesperson of Subhash Chandra Group, in the statement issued.

Jatwala 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 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,” he added.

Continuing further, Jatwala in the statement issued, said, “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.”