Why didn’t Invesco disclose RIL merger plan earlier: Goenka

Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka on Thursday questioned Invesco Developing Markets Fund, ZEEL’s largest investor, for not disclosing the Reliance merger plan earlier and not following good corporate governance.

“Why didn’t Invesco make its plans public earlier? Does good corporate governance only apply to corporates and not their institutional investors?” Goenka said in a statement. Coming down on Invesco, he said, “I acknowledge the stance that has been taken by Invesco, but communications pertaining to such proposals are always well-documented, and they speak to the contrary.”