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$50 million loan spat: YES Bank plans to appeal against Essel order

YES Bank has Rs 8,000-crore exposure to Essel Group

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YES Bank loans, including those given to Essel Group, are being investigated by the Enforcement Directorate (ED), officials said. In March, Essel Group promoter Subhash Chandra had appeared before the ED.

Abhijit Lele Viveat Susan Pinto Mumbai

2 min read Last Updated : Jul 03 2020 | 1:17 AM IST

The country’s fourth-largest lender, YES Bank, is considering legal options against Essel Group after it was denied interim relief on Tuesday by the Bombay High Court in a matter related to a loan the former made to the latter.

YES Bank might move the divisional Bench of the Bombay High Court in the coming days, executives briefed on the matter said, to prevent the promoters of Essel Group from selling shares in Zee Entertainment (ZEEL).

The officials also added that the steps were necessitated to recover all dues from the group. The current dispute pertains to a $50 million (or

Topics : YES Bank Essel Group Bombay High Court Zee Entertainment Enterprises Punit Goenka Enforcement Directorate Subhash Chandra

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