Television

Zee-Invesco tussle: Bombay HC gives Invesco time till 20 Oct to file reply

Earlier, the NCLT had given Zeel time till 22 October to file its reply.

https://indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/tv-images/2021/10/13/photogrid_plus_1634124181179.jpg?itok=EgfOMRYR

Mumbai: The Bombay high court on Wednesday heard the petition filed by Zee Entertainment Enterprises Ltd (Zeel) against the requisition notice sent by its investor Invesco Developing Markets Fund. The court has asked Invesco to file its reply by 20 October and will hear the matter on 21 October.

National Company Law Tribunal (NCLT) has given Zeel time until 22 October to file its reply to Invesco’s requisition plea after a hearing on 8 October.

Zeel’s two top investors Invesco Developing Markets Fund and OFI Global China Fund LLC who combined own 18 per cent stake in the company had sent a requisition notice to the company on 11 September to call an EGM even after two weeks, the investors moved to NCLT, citing provisions of Company Law, according to which the company is bound to call for an EGM within a specific number of days if stakeholder demanding it owns more than 10 per cent of the company.

The investors had also sought the removal of long-standing directors and close associates of the Chandra family from the board. The two independent directors Ashok Kurien and Manish Chokhani have already submitted their resignations. 

The investors moved to have six nominees appointed to the board of Zeel, which included Surendra Singh Sirohi, Naina Krishna Murthy, Rohan Dhamija, Aruna Sharma, Srinivasa Rao Addepali, and Gaurav Mehta as independent directors of the board for a term up to five consecutive years. The notice was received by Zeel on 12 September, and it informed the stock exchanges on 13 September, adding that the appointments are subject to approval by the ministry of information and broadcasting (I&B).

Zeel refused to conduct the EGM citing 'shareholders interest,' and moved to Bombay high court on 2 October seeking to declare the requisition notice as 'illegal and invalid.'

Latest Reads

https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/img_21102021_175043_800_x_800_pixel.png?itok=PNYBKHZz
Zeel-Invesco tussle: Bombay HC directs Zeel to call for EGM

Mumbai: The Bombay high court asked Zee Entertainment Enterprises Ltd (Zeel) to call for the extraordinary general meeting (EGM) requisitioned by Invesco Developing Markets Fund on Thursday. Zeel must inform the court of the EGM date by Friday morning.

Television TV Channels GECs
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/img_21102021_133722_800_x_800_pixel.jpg?itok=vhRQGg5e
July-Sept TV ad volumes show highest spurt in 2021: Barc

Mumbai: Ad volumes on television continue to post healthy growth, with the July-September quarter registering 461 million seconds of advertising – which is the highest this year, as per Broadcast Audience Research Council (Barc) India’s July-September 2021 Ad Volumes - Special Festival Edition...

Television TV Channels Viewership
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/anr.jpg?itok=caB18OxN
IN10 Media’s Gubbare supports child education with Smile Foundation

With the education of children impacted by the pandemic, IN10 Media Network’s kids channel Gubbare has joined hands with leading non-government organisation Smile Foundation to support its Shiksha Na Ruke campaign.

Television TV Channels News Broadcasting
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/21/book.jpg?itok=gYXUgnGI
Media tome throws light on the biz growth pre and post pandemic

The Indian media business is estimated to be a $19 billion industry in 2021, according to veteran business journalist Vanita Kohli-Khandekar. On 20 October, Khandekar inaugurated the fifth edition of her book ‘The Indian Media Business: Pandemic and After’ published by Sage Publications India at a...

Television TV Channels News Broadcasting
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/aaj.jpg?itok=aNpt9Gh_
Aaj Tak Bangla's Durga Puja coverage goes beyond food and pandal hopping

Durga Puja is the time of the year that puts Bengal on the global itinerary of culture and festivities. For Bengal, Durga Puja is not just a festival but also a celebration of art, history, heritage, and homecoming.

Television TV Channels Regional
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/img_20102021_161133_800_x_800_pixel.jpg?itok=avsj-hxA
NTO 2.0: Times Network publishes new RIO

Mumbai: Times Network has published its reference interconnection offer (RIO) issued under telecommunications (broadcasting and cable) services interconnection (addressable systems) regulations, 2017 for all distribution platforms. The new RIO will be effective from 1 December onwards.  The tariffs...

Television TV Channels News Broadcasting
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/img_20102021_142756_800_x_800_pixel.jpg?itok=Mb5skioU
Red FM launches ‘Totka Chalao, India Ko Jeetao’ campaign for World Cup

Mumbai: Radio and entertainment network 93.5 Red FM has kick-started its World Cup campaign called ‘Totka Chalao, India Ko Jeetao.’ The campaign will be rolled out in 40 key markets across the country. Capturing the passion and craze of fans, Red FM will celebrate the ‘totkas’ and will have RJ’s...

Television TV Channels Music and Youth
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/img_20102021_141022_800_x_800_pixel.jpg?itok=DAMHQ7Fq
AR Rahman returns as BAFTA Breakthrough India ambassador

Mumbai: The British Academy of Film and Television Arts (BAFTA) has announced AR Rahman as the Breakthrough India ambassador for another year as they invite a new round of applications in India for the programme. Supported by Netflix, this programme will be open for prospective talent across the...

Television TV Channels News Broadcasting
https://indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/10/20/img_20102021_113749_800_x_800_pixel.jpg?itok=_zNg5lCy
TV9 Network appoints Anshuman Tiwari as editor, Money9

Mumbai: TV9 Network has strengthened the leadership of TV9 Digital and appointed Anshuman Tiwari as editor of Money9. Veteran journalist Rakesh Khar will assume a larger role as business and economy editor of the network. Tiwari is a recipient of the Ramnath Goenka Award, the WAN-INFRA...

Television TV Channels People

Sign up for our Newsletter

subscribe for latest stories

* indicates required