Zee-Invesco spat: NCLT to hear matter again on Tuesday

Amid the ongoing spat with the board of Zee Entertainment Enterprises Ltd, Invesco on Monday urged the National Company Law Tribunal (NCLT) to pass an order to ensure the convening of the company’s Extraordinary General Meeting (EGM).

After hearing the matter for some time on Monday, the tribunal adjourned the proceedings for Tuesday.

Invesco’s counsel Mukul Rohatgi told the NCLT that it was “mandatory duty” of Zee Entertainment Enterprises Ltd (ZEEL) to honour the EGM requisition as Invesco has 18 per cent shareholding in the company and as per law, a minimum of 10 cent shareholding is needed to request for convening an EGM.