NCLT directs Zee board to consider Invesco's requisition for EGM

It's not a discretionary power of the Zee Entertainment board to call or not call for EGM, says NCLT

The Mumbai Bench of the National Company Law Tribunal (NCLT) on Thursday asked the Zee Entertainment Enterprises board to consider the requisition of the Invesco Developing Markets Fund and OFI Global China Fund LLC to hold an extraordinary general meeting (EGM) of the company.

Following the order, the independent directors of the board met on Thursday evening and the meeting remained inconclusive till the time of going to press.

The meeting followed a direction from the Bench of Bhaskar Pantula Mohan and Chandra Bhan Singh, who asked the company’s board to comply with the Companies Act, 2013, which says the