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National Company Law Tribunal (NCLT) has given Zee two weeks to file their final reply to Invesco's request to hold an extraordinary meeting to oust Punit Goenka as the CEO of the company.
Zee will be submitting its final replies to the tribunal on October 22.
This comes after the National Company Law Appellate Tribunal (NCLAT), on Thursday, had asked the NCLT to give more time to the company.
The NCLAT said that NCLT has erred in ordering Zee to reply within two days, violating principles of natural justice. On Tuesday, the NCLT had asked Zee to respond to Invesco’s request by October 7.
This prompted Zee to file a petition with the NCLAT. After hearing Zee’s petition, the NCLAT said on Thursday that Section 98 of the Companies Act does not prescribe any time limit on NCLT.
Zee entertainment will file their replies on October 22 after which the tribunal will decide the date on which the matter will be heard finally.
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