InvestorQ : What is the meaning of the high court order on Zee case?
Tisha Malhotra made post

What is the meaning of the high court order on Zee case?

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Aashna Tripathi answered.
2 months ago
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Finally there is some good news for Zee. The Bombay High Court has restrained Zee from holding the extraordinary general meeting or EGM demanded by Invesco Fund. Incidentally, Invesco is the largest investor in Zee with 17.88% stake. The purpose of the EGM was to vote on the removal of Punit Goenka from the post of MD & CEO of Zee as well as have 6 of Invesco nominees on the board.

The High Court observed pertinently that if a particular shareholder resolution had the potential to cause a company to run aground, there was absolutely no logical reason for the court to allow such a resolution to be debated. Invesco counsel has argued on the authority of the court in this case, which his unlikely to stand.

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