Invesco moved the division bench against Zee and its CEO Punit Goenka on the basis that the high court had no jurisdiction to hear the matter and it should be heard and decided by the NCLT (National Company Law Tribunal)
The Bombay High Court on Tuesday allowed an appeal filed by Invesco Developing Markets Fund, the largest shareholder of Zee Entertainment Enterprises Limited (Zee), against a single-judge order granting interim injunction on holding an EGM to remove Zee's CEO Punit Goenka.
The Bombay High Court on Tuesday allowed Invesco Developing Markets Fund's appeal against the single judge's order, according to lawyers involved in the matter. The single judge's order has been set aside on all counts.
Bombay High Court Justice Gautam Patel clarified that the order he passed in 2021 which contains guidelines to protect the identities of parties in proceedings under the POSH Act was not a general rule.
The clarification came while disposing of an application filed by Forum Against Oppression of Women seeking to intervene in the petition in which the guidelines were issued last September.