Zee invesco Case Nclt Says Zee Should Consider Shareholders Request To Hold Egm

The National Company Law Tribunal (NCLT) ordered Zee Entertainment Enterprises Ltd to consider the request of shareholders to call an Extraordinary General Meeting (EGM). During today's hearing, the tribunal also stated that the board's decision to convene or not call an EGM is not a discretionary power. Invesco and OFI Global China Fund filed a complaint with the NCLT against ZEE for failing to summon an extraordinary general meeting. On the BSE, Zee shares fell 2.21 percent to settle at 302.95 apiece as the NCLT hearing got underway. Punit Goenka and two other independent directors were to be removed at an extraordinary general meeting of shareholders called by two investment firms. The merger of ZEE and Sony Pictures Networks India (SPNI) has been announced, resulting in the country's largest media firm.