ZEE ENTERTAINMENT EN

ZEEL
Delayed Quote. Delayed  - 01/21 07:09:13 am
289.35INR -6.19%

Punit Goenka Provides Information to the Shareholders

10/23/2021 | 12:00am
On October 23, 2021, Punit Goenka, MD and CEO of Zee Entertainment Enterprises, filed an affidavit in the National Company Law Tribunal (NCLT), alleging that Invesco wanted to teach him a lesson for rejecting their proposal of merger of Zee with the media entities controlled by a rival Indian conglomerate. Punit Goenka stated that the merger proposal by Invesco with the strategic group, would have resulted in a huge loss to the Company shareholders in the absence of any valuation reports and Invesco now wants to wrest control of the firm. Without naming the Indian conglomerate, Goenka said during his meetings with a representative of the strategic group that he was told in case he requested valuation information, they were not interested in doing the deal.
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