InvestorQ : What is the latest update on the Zee / Invesco control battle?
Mary Joseph made post

What is the latest update on the Zee / Invesco control battle?

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Arusha Ray answered.
1 month ago
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After the Zee board refused to hold the EGM, Invesco Fund has requested NCLT to instruct Zee to hold the EGM. The NCLT has already heard the arguments of the lawyers of Invesco and has asked Zee to be prepared with its responses on 07th October. In the meanwhile, the Essel Group founder Subhash Chandra has stated that he was rather puzzled by the approach adopted by Invesco Fund.

He urged Invesco Fund to disclose the rationale behind its demand for ouster of Punit Goenka from the helm of Zee. Chandra has asked the regulator to verify the intent of Invesco in trying to replace Punit Goenka and trying to stifle the Sony Pictures merger deal with Zee. Chandra added that Sony deal favoured small investors. However, the final word on the case will only be out after Zee presents its arguments on Thursday.

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