Sebi cautions Zee Entertainment on delay in EGM notice

The market regulator, the Securities and Exchange Board of India (Sebi) has cautioned and advised Zee Entertainment Enterprises to exercise due diligence for ensuring timeliness of disclosures about the extraordinary general meeting (EGM) request made by its largest shareholder, Invesco.

In a caution letter to Zee, the Sebi said any such aberration in future would be viewed seriously and appropriate action would be initiated. In a letter dated October 21st, to the company, the Sebi said the disclosure dated September 13, 2021 made by Zee Entertainment Enterprises at 9:58 pm to the stock exchanges titled ‘Requisition for calling an Extraordinary General Meeting of the shareholders of lEEL’ received from Invesco Developing Markets Fund and OFI Global China Fund llC letter, was late. The board took note of the letter today.