Advertisement
Tuesday, Sep 27, 2022
Outlook.com
Outlook.com

Zee Entertainment Moves Court Demanding EGM Be Declared Illegal

On Friday, Zee Entertainment had rejected the investors' demand to convene an extraordinary general meeting to discuss several issues including the ouster of CEO and MD Punit Goenka.

Zee Entertainment Moves Court Demanding EGM Be Declared Illegal
Zee Entertainment Moves Court Demanding EGM Be Declared Illegal
outlookindia.com
2021-10-02T16:01:11+05:30

Zee Entertainment moved the Bombay High Court on Saturday seeking its shareholders Invesco Developing Markets Fund and OFI Global China Fund LLC's demand for an extraordinary general meeting be declared illegal and invalid. The company stated in a regulatory filing to the Bombay Stock Exchange. 

The company added that there would be no potential financial implications with the civil suit excluding legal costs. 

On Friday, Zee Entertainment had rejected the investors' demand to convene an extraordinary general meeting to discuss several issues including the ouster of CEO and MD Punit Goenka. (Full Story). The development came after the Mumbai bench of the National Company Law Tribunal asked Zee to consider shareholders' proposal to conduct an EGM. 

The Mumbai bench of the National Company Law Tribunal had asked Zee to consider its shareholders' proposal to conduct an Extraordinary General Meeting. 

Invesco and OFI Global China Fund collectively own 17.88 per cent stake in the company. 

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement