Yes Bank had acquired a stake in Dish TV after private entities owned by Chandra’s Essel Group had defaulted on the Rs 5,270-crore loan taken from the bank. Chandra accepted the embarrassment stating, “It has never happened that the accounts of a company have not been approved in the AGM.” The shareholders had rejected all the three proposals mooted by the promoters – the re-appointment of Ashok Mathai Kurien as director and two other ordinary resolutions, including adoption of financial statements. I have no regrets and have faced the mistakes honourably,” he said, adding that he should not have got into unrelated areas like infrastructure and when the businesses were not working should have exited rather than pumping more money into them.Ĭhandra’s family, which owns a stake of 5.93% in Dish TV, recently faced a big setback and embarrassment when the results of an annual general meeting held at the end of December 2021 were declared on March 8 following a direction from the Securities and Exchange Board of India. “I made mistakes but they were good intention mistakes. He said that he’s even willing for a third-party mediation to resolve the Dish TV problem as he wants to move ahead.Ĭhandra said that he’s been able to clear around 91% of his debts with lenders and if the Dish TV matter is resolved, he would be able to clear the balance.Ībout piling up a huge debt of around Rs 16,000 crore way back in 2019, of which around Rs 11,000 crore were owed to banks and NBFCs, Chandra said he accepts he made mistakes but added he has no regrets. “If they feel that we are not running the company well, they should take over, but then they have to be clear that they are a shareholder, not a lender,” he added.Ĭhandra said that he’s reached out to Yes Bank and asked them to suggest the way forward but has not got a satisfactory response from them so far. “My brother (Jawahar Goel) is willing to step down as chairman and managing director of Dish TV if that’s what Yes Bank wants, but then they need to decide what they are, a shareholder or lender,” Chandra said. The company primarily retails the Nexzu Dextro in low-speed and high-speed options, while its e-cycles range comprises the Rompus, Rompus+, Roadlark and the Roadlark Cargo.Eligibility standards may be prescribed: Govt mulls size threshold for auditors of large firms The company's product range comprises electric scooters and e-cycles. Nexzu Mobility offers a range of EV products, including state-of-the-art, affordable e-scooters and e-cycles. With a manufacturing plant at the automotive hub of Chakan, the company has over 100 dealer touchpoints, its own online store, and a presence across multiple e-commerce portals. Nexzu Mobility is also offering an EMI alternative with Zest money, as well as easy payment options for customers.Īlso Read: Nexzu Mobility Launches New Range Of E-Cyclesįormerly called Avan Motors, Nexzu Mobility is one of India's leading electric vehicle (EV) manufacturers, and was founded in 2015. Deliveries for the pre-bookings will begin after the product launch in February 2022. Nexzu Mobility will officially launch the products in February 2022, but the e-cycles are available for pre-booking on the Nexzu Mobility e-commerce website and social media handles. The Nexzu Bazinga e-cycle range has been described as unisex e-cycles which can be used by both men and women.
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