Bombay HC asks ZEEL board to call the EGM as requisitioned by Invesco

During the proceedings, Justice Patel said denying the right to call an EGM would set a "ferocious" precedent. ZEEL said it would inform the court on Friday about the EGM date

The Bombay High Court (HC) on Thursday asked the board of Zee Entertainment Enterprises (ZEEL) to hold an extraordinary general meeting (EGM) of shareholders as requested by its largest shareholder, Invesco.

A single-judge Bench of Justice G S Patel said the EGM resolutions will be kept in abeyance for a week thus, giving time to ZEEL to approach the courts to contest the legality and validity of the EGM requisition made by Invesco. The court also proposed that a retired judge or a neutral person chair the EGM. The ZEEL board is currently chaired by R Gopalan.

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