ZEE ENTERTAINMENT EN

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Punit Goenka Files an Affidavit in the National Company Law Tribunal

10/22/2021 | 11:52am
On October 22, 2021, Punit Goenka, MD and CEO, of Zee Entertainment Enterprises Limited 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 the Company with the media entities controlled by a rival Indian conglomerate. Punit Goenka expressed that the merger proposal by Invesco with the strategic group', would have led to a massive loss to the Company shareholders in the absence of any valuation reports. Meanwhile, NCLT Mumbai adjourned the hearing to October 27, so as to wait for the high court order on October 26, 2021. Invesco Developing Markets Funds and its subsidiary OFI Global China Fund had moved NCLT after the Company board rejected their EGM requisition notices citing the notice as illegal and invalid.
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