INSUBCONTINENT EXCLUSIVE:
Bombay High Court has restrained Zee Entertainment's shareholder Invesco from holding an EGMThe Bombay High Court on Tuesday granted an
ahead with the requisition of an extraordinary general meeting (EGM) seeking removal of the ZEEL managing director and CEO Punit Goenka.A
awaited.The high court had reserved its order on the issue last week after ZEEL had told the court that it was not willing to hold an EGM of
shareholders as requested by its largest shareholder, Invesco.The submission was made in response to a previous suggestion made by the
Bombay High Court whereby, Justice Patel had asked the ZEEL if it was willing to hold such a meeting.Senior counsel Gopal Subramanium, who
requisition to the company on September 11 to call for an EGM for the removal of Punit Goenka and two other non-independent and
non-executive directors from the company's board
It had also sought the induction of six new independent directors.ZEEL, however, moved the high court on October 2, seeking that the court
declares the requisition notice for a shareholders meeting sent by Invesco as illegal and invalid.
