Zeel must get reasonable time to reply to investors plea: NCLAT passes order indiantelevision.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiantelevision.com Daily Mail and Mail on Sunday newspapers.
The NCLT said the matter of the dispute is simple whether the EGM requisition is valid or not, and it cannot give Zee Entertainment "weeks and weeks" of time for filing its reply to the same
On Friday, the company had rejected the request of its shareholders, Invesco and OFI Global China Fund, to convene an EGM to discuss several issues, comprising removal of ZEEL's Chief Executive and Managing Director Punit Goenka
Zee-Sony entity to generate close to $2 billion in revenue indiantelevision.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiantelevision.com Daily Mail and Mail on Sunday newspapers.
There was speculation that the investor action against the promoter family at Zee Entertainment Enterprises would force the board to take some action. And it has: early this morning Zeel announced that the board has approved a merger proposal between Sony Pictures Networks India and India’s largest troubled media entity.