Whose 'Yes' man and whose 'Proxy'? Proxy advisory firm IiAS, Yes Bank fall into their own trap in Dish TV matter - Their actions under question
Now, both Yes Bank and proxy advisory firm Institutional Investor Advisory Services India Limited (IiAS) are badly entangled in the questions raised by them.
For the past few days, Yes Bank and Dish TV news stories are in focus in the markets, in wake of some recent moves by Yes Bank against Dish TV. Yes Bank has proposed to appoint new directors in Dish TV, including a person who was under SEBI scanner for selective disclosure and had to settle the issue after paying huge sum of money.
Now, both Yes Bank and proxy advisory firm Institutional Investor Advisory Services India Limited (IiAS) are badly entangled in the questions raised by them. Both the firms are facing serious questions from the market about the hidden intentions and ill motives behind the steps taken by them - Here are some:-
- Why did Yes Bank put forward the proposal? Why IiAS supported it?
- Are Yes Bank and IiAS trying to mislead the big investors?
- Why Yes Bank and IiAS are propagating selective facts?
- Is IiAS working on behalf of someone who wants to takeover Dish TV?
- IiAS says that financial results should be withheld - Who will benefit from this move? Why this advisory?
- Why IiAS is keeping a mum on Yes Bank's proposal to appoint someone who had faced regulatory action?
प्रॉक्सी एडवाइजरी फर्म IiAS क्या किसी कॉरपोरेट घराने के इशारे पर कर रही काम?
कॉरपोरेट गवर्नेंस पर इतना पक्षपात क्यों?
— Zee Business (@ZeeBusiness) September 17, 2021
- What's the problem with the rights issue? Money will go into the company, not to the individual's pocket - so what's the problem exactly? What's the intention of Yes Bank?
- Why there is the demand for Dish TV management change - What Yes Bank wants to achieve by this?
-The nominees proposed by Yes Bank have desired DTH industry experience?
There are many points that raise suspicions on the moves and intentions of Yes Bank and IiAS in the case of Dish TV. It seems there is a plan to create doubts in the mind of investors, but such move may lead to loss of credibilty for proxy firm itself. Zee Media sent mails to Yes Bank and IiAS for their response but no replies received till the time of publishing this story.
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