Zee refuses to convene the EGM as requisitioned by Invesco

'In its meeting held on October 1, 2021, the Board has arrived at a conclusion that the requisition is invalid and illegal,' says Zee in a stock exchange filing

The board of Zee Entertainment Enterprises Ltd will not hold an EGM as demanded by shareholder Invesco, the company said on Friday. 

"The Board sought the opinions of independent counsel, legal experts including senior retired Supreme Court judges and evaluated the matter in a fair and transparent manner. In its meeting held on October 1, 2021, the Board has arrived at a conclusion that the requisition is invalid and illegal; and has accordingly conveyed its inability to convene the Extraordinary General Meeting to Invesco Developing Markets Funds and OFI Global China Fund, LLC," Zee said in a stock exchange filing.