Zee board rejects Invesco's request for convening Extraordinary General Meeting
The Hindu
On September 22, Zee Entertainment and Sony Pictures Networks India had announced their mergers, which will create the country’s largest media company
Zee Entertainment Enterprises Ltd on Friday said its board has rejected the request of shareholders, Invesco and OFI Global China Fund, to convene an Extraordinary General Meeting (EGM) to discuss various issues, including removal of Managing Director Punit Goenka.
At its meeting held on Friday, the company's board rejected the minority shareholders' demand and termed the requisition as "invalid and illegal".
"In its meeting held on October 1, 2021, the board has arrived at a conclusion that the requisition is invalid and illegal; and has accordingly conveyed its inability to convene the Extraordinary General Meeting to Invesco Developing Markets Funds and OFI Global China Fund, LLC," ZEEL said in a statement.
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