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
Business Standard brings you the top stories from today
By Invesco's own admission, its role was that of a "facilitator" in the proposed deal between RIL and Zee
The central government is likely to exceed the budgeted tax collection target of Rs 22.2 trillion for the current fiscal year. Read more on our top headlines of the day
The public battle between the broadcasting giant and a key institutional shareholder has precipitated a high-decibel debate on corporate governance practices
The fight between Zee and Invesco is showing no signs of abating. The two parties have dragged each other to court. And, in a new twist, Reliance Industries has also been drawn to the scene
Goenka questioned the intention of Invesco while pointing fingers at the investment firm over corporate governance for not making public a proposed deal Reliance Industries earlier
Live news updates: Reliance says it regrets getting drawn into the dispute between the Indian TV network and the American investment company.
The reason for the coal crisis and Air India's many challenges: Business Standard explains in top headlines on Thursday.
"The role of Invesco, as Zee's single largest shareholder, was to help facilitate that potential (Reliance) transaction and nothing more," Invesco said
The war of words between Invesco and ZEEL shows that minority shareholders were not in the loop about the acquisition talks till Tuesday
Zee said it is dismayed that in the open letter, Invesco has also cast unsubstantiated aspersions on Zee's management and has made comments in relation to the 'permissive culture' of the Board
Invesco denied allegations from Zee that the US investment firm pitched a merger with another group that would have hurt shareholder interests before opposing the TV group's potential deal with Sony
Proposal would have led to Rs 10,000-cr loss to shareholders, says firm
In its letter on Monday, Invesco said the lack of clarity around key aspects of the Zee-Sony announcement should concern all shareholders
Invesco has in Indian tribunal hearings said it's not against the Zee-Sony plan, but its filing does criticize how the two entered into talks.
The move follows a NCLAT order on Thursday that granted ZEEL more time to file its reply
On October 2, ZEEL said it has moved the Bombay High Court against the requisition of minority shareholders Invesco and OFI Global China Fund, to convene an EGM
NCLT adjourned the hearing on Invesco's petition seeking convening of shareholders' meet by Zee Entertainment Enterprises, saying it will wait for the appellate tribunal's order related to the matter.
The bench told ZEEL's counsel that they have all the time to appeal before NCLAT that would have required hundreds of pages but did not have the time to reply with 3-4 pages before the NCLT