Zee has filed a petition with the National Company Law Appellate Tribunal (NCLAT) challenging National Company Law Tribunal’s (NCLT) order that asked the company to respond by Thursday on Invesco's demand to hold an extraordinary general meeting.
It was the opinion of the NCLT bench that the matter must be decided on quickly since more than half of the 45-day time period to call for an EGM had elapsed.
A Zee spokesperson said in a statement, “The company has moved to National Company Law Appellate Tribunal (NCLAT) in accordance with the due process available under the law. The company has also filed a suit in Bombay High Court to declare that the requisition notice sent by Invesco Developing Markets Fund and OFI Global China Fund LLC is invalid. The company continues to have full faith in the Indian judicial system and will take all the necessary steps that are in the best interests of all its shareholders.”
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