Invesco urges NCLT to order Zee EGM

Invesco Developing Markets Funds on Monday reiterated its demand before the Mumbai bench of the National Company Law Tribunal that Zee Entertainment Enterprises (ZEEL) should convene an extraordinary general meeting (EGM), which should be chaired by a retired high court judge.

“Our apprehension of ZEEL board not calling an EGM has come true. We are not concerned with the outcome of the EGM, but only concerned that an EGM should be called,” Invesco’s counsel Mukul Rohatgi told the bench.
The Companies Act empowers shareholders holding at least 10% of voting rights to convene an EGM, in case the company is not willing to do so.