Zee moves Bombay High Court against Invesco's EGM requisition

Zee informed the Bombay Stock Exchange on Saturday that the company has filed a suit before the Bombay High Court under the ordinary original civil jurisdiction (Civil Suit), inter alia requesting the Bombay High Court to declare that the requisition notice sent to the company by Invesco Developing Markets Fund and OFI Global China Fund LLC (shareholders of the Company) is illegal and invalid.

On Friday, the company sent a letter to both the investors pointing out several loopholes in their requisition notice to call an extraordinary general meeting (EGM) for the removal of Punit Goenka as Director and appoint six new independent directors on the board.

Earlier, Invesco and OFI Global had moved to the National Company Law Tribunal, Mumbai Bench, which directed Zee to consider the requisition for calling an EGM positively. The tribunal is slated to hear the matter again today.

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