Zee to hold board meeting to consider Q2 earnings on November 11

Zee Entertainment on Wed­n­esday announced Novem­ber 11 as board meeting date to announce earnings.

The company, which has been immersed in a legal battle with its largest shareholder, had cancelled Octo­ber 27 board meet citing lack of quorum. “Zee Entert­ain­ment Ent­er­prises has infor­med BSE that the meeting of the boa­rd of directors of the company will be held on November 11, inter alia, to consider and approve the unaudited financial results of the company both on sta­nd­alone and consolidated basis for the 2nd quarter and half year ended September 30, 2021,” the company said in a stock exchange filing.

Zee’s single-largest sha­re­holders Invesco Devel­oping Markets Fund (for­merly Invesco Oppenheimer Devel­oping Markets Fund) and OFI Global China Fund LLC, which together hold 17.88 per cent, have been pressing for an extraordinary general meeting of shareholders for removing Managing Director Punit Goenka, besides opposing Zee’s proposed merger deal with Pictures Network India.

Two independent board members — Manish Chok­hani and Ashok Kurien — had resigned from the firm last month after the allegations from Invesco and OFI Global China Fund LLC.

Presently, there are nine members on the board of Zee, which include Chair­person R Gopalan and CEO and MD Punit Goenka.

Besides, Zee has four independent director —Piy­ush Pandey, Alicia Yi, Sasha Gulu Mirchandani and Vivek Mehra — on its board.