Zee Entertainment Enterprises said on Wednesday its top shareholders had approached National Company Law Tribunal (NCLT) asking the media and entertainment company to carry a unprecedented general meeting (EGM).
Invesco Developing Markets Fund and OFI Global China Fund LLC, which together hold a 17.88 per cent stake in Zee, filed a petition with the NCLT’s Mumbai bench, the corporate said during a filing to the exchange.
The investors had earlier this month asked Zee to get rid of Chief military officer Punit Goenka and two directors from the board and to appoint independent directors.
Meanwhile, Zee last week signed a merger handle Sony Group Corp’s India unit to form the country’s largest broadcaster, with Mr Goenka set to become the merged entity’s decision maker and chief officer.
Zee, in a very separate filing on Wednesday, disclosed that Invesco and OFI had requested the corporate to conduct an EGM in a very letter dated September 23.
In the letter, Invesco and OFI had said Zee’s disclosure of the Sony deal was “symptomatic of the erratic manner within which important and heavy decisions are handled at the corporate,” a bit of media had reported
