Invesco wants to wrest control of Zee, says Punit Goenka in NCLT affidavit

Accuses Invesco of wanting to merge Zee with a rival at the cost of Zee shareholders

Punit Goenka, MD and CEO, today filed an affidavit in the National Company Law Tribunal (NCLT) alleging that Invesco wants to “teach him” a lesson for rebuffing their proposal for merging Zee with the media entities controlled by a rival Indian conglomerate. The merger proposal by Invesco with the “strategic group’’, would have led to a massive loss to Zee shareholders in the absence of any valuation reports, Goenka informed the court.

Without naming the Indian conglomerate, Goenka said during his calls with a representative of the "strategic group", he was told that if he sought valuation information, they were