InvestorQ : What are the next steps contemplated by Invesco, now that Zee has refused to hold the EGM?
Katherine Gonsalves made post

What are the next steps contemplated by Invesco, now that Zee has refused to hold the EGM?

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rhea Babu answered.
1 month ago
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The Zee – Invesco battle appears to be changing colour on a daily basis. Over the weekend, Zee board refused to convene the EGM at the behest of Invesco Fund. They have even approached the court to strike down the NCLT order. In the latest development, Invesco has asked NCLT to pass a mandatory order directing Zee to call for an EGM.

In addition, Invesco has also demanded that the EGM be chaired by a retired High Court judge for greater credibility as they had lost faith in the current board. Zee has remained steadfast in its opinion that any management changes at Zee require prior approval of I&B Ministry as per Uplinking Rules. NCLT will hear the matter on 05th October.

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