Invesco moves NCLT against Zee, petition to be heard tomorrow

www.business-standard.com
2 min read
fairly difficult
'The company does not wish to comment on any impulsive or premature steps taken by Invesco Developing Markets Funds and OFI Global China Fund, LLC,' says ZEEL spokesperson
Fund, the 18 per cent shareholder in Zee Entertainment Enterprises (ZEEL), has moved the National Company Law Tribunal – asking the company to call an extraordinary general meeting of shareholders to induct its nominees on the company's board. has moved under Section 98 (1) & 100 and has sought NCLT's intervention to direct Zee Entertainment to call for EGM.

Earlier this month, Invesco, an Oppenheimer Holdings-backed fund, had asked ZEEL board to appoint six of its nominees on ZEEL board and had asked the company to call an EGM. also wanted ZEEL's current CEO and MD, Punit Goenka to be removed.…
Dev Chatterjee
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