Zee Files Petition To Block Investors' Demand Ahead Of Planned Sony Merger

INSUBCONTINENT EXCLUSIVE:
Zee signed a merger deal with Sony Group Corp's India unit to create the country's largest broadcaster.Zee Entertainment Enterprises
said on Saturday it had filed a petition in court against a notice issued by two institutional investors pushing the media company to call
for a meeting of shareholders.Zee's board on Friday rejected calls from Invesco Developing Markets Fund and OFI Global China Fund LLC for
an extraordinary general meeting, citing the lack of approvals required from India's capital markets regulator and the federal
chief executive Punit Goenka to be removed and a board revamp.The two investors filed a petition at India's companies court after Zee last
week signed a merger deal with Sony Group Corp's India unit to create the country's largest broadcaster.Goenka is set to become head of
the new venture
The next hearing for the case is scheduled for Oct
4.