Budget 2018-19

  The lender, which holds 25.93% stake stake in  Dish TV , had sought the removal of the firm’s directors Jawahar Lal Goel and four others, and appointment of its own nominees The board of Dish TV Ltd (DTL) rejected on Wednesday, YES Bank’s demand to hold an extraordinary general meeting (EGM) to consider resolutions, citing regulatory limitations and absence of prior approvals from the government and lenders. Private lender YES Bank, which holds 25.93 per cent stake stake in DTL, had sought the removal of DTL directors Jawahar Lal Goel and others, and appointment of the bank’s own nominees. The bank had sought their removal for alleged hasty and arbitrary decisions to proceed with the rights issue despite objections raised by the lender. DTL in filing with BSE said the board considered the factual background, the legal advice and the opinions received from various legal experts. YES Bank is a banking company and its stake in DTL arises from the invocation of pledges shares. H...

  The Enforcement Directorate will produce Kerkar in the Mumbai sessions court on Friday The Enforcement Directorate (ED) on Thursday arrested Cox & Kings (CKL) promoter Ajay Ajit Peter Kerkar in connection with the YES Bank money-laundering case. The beleaguered tour and travels company, one of the top borrowers of the private lender, owes Rs 5,500 crore to a clutch of banks and non-banking financial institutions. The move follows a series of arrests of CKG executives, including that of erstwhile chief financial officer (CFO) Anil Khandelwal and internal auditor Naresh Jain, in the case. Confirming the development, an ED official said Kerkar would be produced in the Mumbai sessions court on Friday and his custody for at least five days will be sought for interrogation. The CKG group and its promoter came under the ED scanner when the agency started investigating the books of  YES Bank  and its top borrowers. During the probe, the ED came across lenders’ enquiry again...