Explainer: Why is Invesco entangled in a legal dispute with TV giant Zee

India’s Zee Entertainment is locked in a legal battle with one of its biggest foreign investors, Invesco, after it called for ouster of the TV network’s CEO citing concerns around corporate governance.

Zee has said it has tightened its governance processes. But the dispute comes at a fraught time for one of India’s biggest news and entertainment TV groups as it recently started merger talks with the local unit of Japan’s Sony Group Corp.

Here is what the Invesco-Zee dispute is all about:

WHAT ARE INVESCO’S DEMANDS?

Invesco’s legal filings reviewed by Reuters – which are not public – show it wants changes at Zee in light of corporate governance and financial irregularities that have plagued the company, and have even been flagged by India’s market regulator.