Zee Entertainment moves NCLAT against minority shareholders' requisition for EGM
The Hindu
Zee Entertainment Enterprises Ltd on Wednesday approached the National Company Law Appellate Tribunal (NCLAT) against the requisition of minority shareholders Invesco and OFI Global China Fund to conv
Zee Entertainment Enterprises Ltd on Wednesday approached the National Company Law Appellate Tribunal (NCLAT) against the requisition of minority 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.
The media major has challenged the orders of Mumbai-bench of the National Company Law Tribunal, which had on Tuesday directed Zee Entertainment Enterprises Ltd (ZEEL) to filed reply over the petition filed by its minority shareholders by October 7 (Thursday), the next date of hearing. Confirming the development, a ZEEL Spokesperson said: "The company has moved NCLAT in accordance with the due process available under the law." Last week, ZEEL had informed it had also moved the Bombay High Court against the requisition of minority shareholders.
"The company has also filed a suit in the Bombay High Court to declare that the requisition notice sent by Invesco Developing Markets Fund and OFI Global China Fund LLC is invalid," he added.
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