Zee Files Petition To Block Investors' Demand Ahead Of Planned Sony Merger

Invesco and OFI, which together own 17.88 per cent of Zee, want its chief executive Punit Goenka to be removed and a board revamp.

Zee Entertainment Enterprises said on Saturday it had filed a petition in court against a notice issued by two institutional investors pushing the media company to call for a meeting of shareholders.

Zee's board on Friday rejected calls from Invesco Developing Markets Fund and OFI Global China Fund LLC for an extraordinary general meeting, citing the lack of approvals required from India's capital markets regulator and the federal broadcasting ministry for initiating changes to a company's board.

Invesco and OFI, which together own 17.88 per cent of Zee, want its chief executive Punit Goenka to be removed and a board revamp.