Zee moves court to block investors’ EGM demand
The Hindu
Zee’s board on Friday rejected calls from Invesco Developing Markets Fund and OFI Global China Fund for an extraordinary general meeting
India’s Zee Entertainment Enterprises said on Saturday it had filed a petition incourt against a notice issued by 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% of Zee, want its chief executive Punit Goenka to be removed and a board revamp.
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