Invesco News

In a major setback to the China-backed company amid the ZEEL-Invesco matter, the Bombay High Court on Tuesday stayed the convening of the Extraordinary General Meeting (EGM) of shareholders. Actually, ZEEL had filed a petition against calling this meeting, on which this decision has been out.

Punit Goenka has exposed Invesco's double standards. In his letter, he clarified that Invesco representatives had approached him about a combination with a strategic group. According to Punit Goenka, the deal has cost ZEEL's investors tens of thousands of crores.

Media report telling Invesco's victory is false, Bombay High Court advised ZEEL to call the EGM.

Zee Entertainment Enterprises Limited’s (ZEEL) MD & CEO Punit Goenka finally opened up on the ongoing issue with its investor Invesco. In a statement on Thursday, he said that he isn’t worried about his position but about the future of the media company. He said that the purpose of the current tussle with Invesco is to make the company even stronger. “We have to try that the future of the company is not affected,” he added to his statement.

He said that he isn’t worried about his position but about the future of the media company. He said that the purpose of the current tussle with Invesco is to make the company even stronger. “We have to try that the future of the company is not affected,” he added.

The merger was not taken forward after the offer over differences over a stake of Zee founders. "We regret our being drawn into the dispute between Zee and Invesco," Reliance said. Invesco recently six named for Board of Directors, which are related to Reliance in some way or the other.

Punit Goenka has exposed Invesco's double standards. In his letter, he clarified that Invesco representatives had approached him about a combination with a strategic group. According to Punit Goenka, the deal has cost ZEEL's investors tens of thousands of crores.

The religious body has appealed to the government, the concerned regulatory institutions such as NCLT and NCLAT, Invesco, the media company behind this indirect bid, Subhash Chandra's family, and the Zee shareholders to sit down and find an amicable solution to this issue.

Sadhu Samaj demanded ZEEL management to be with Subhash Chandra family It flayed Invesco which is trying to take over the company The religious body urged all stakeholders to find amicable solution to the issue

The NCLT order has come a day after the NCLAT directed it to provide a reasonable time for ZEEL to respond. NCLAT had noted that NCLT hadn’t provided adequate to ZEEL. The NCLT has now asked ZEEL to file its response by October 22.

After filmmakers including 'Showman' Subhash Ghai, Rakesh Roshan, Boney Kapoor, Ashoke Pandit, Madhur Bhandarkar, Satish Kaushik among others, noted actress Hema Malini has tweeted on the matter.

NCLAT has directed the NCLT to provide "reasonable and sufficient opportunity" to ZEEL. Invesco's plea seeks convening a meeting of the company's shareholders. The appellate tribunal, however, did not mention how much time should be given to ZEEL to submit its reply.

Bringing the matter to the public domain for the first time, ZEEL founder Dr Subhash Chandra appeared on Zee News Editor-In-Chief Sudhir Chaudhary’s prime time show DNA and posed some very tough questions to Invesco and accused it of trying to take over the ZEE group in a clandestine manner.

He made the reference to the UK regulator hoping that Indian regulators will take a cue and won’t allow the illegal take over of ZEEL. He added that India won’t let this happen. Invesco is just a shareholder and not the owner of the company.

Dr Chandra said that if Invesco wants to fight, then he will fight back. He also said that the real owners of ZEEL are the 2.5 lakh public shareholders. More than 90 crore viewers watch ZEEL TV channels.

Dr Subhash Chandra got emotional recalling the journey of Zee He said it was just meant to be and that the feat could not be repeated by anyone including himself “It was destiny. It was just meant to be. And that’s how Zee happened. I could not repeat the feat today, even if I wanted to,” he added

Dr. Subhash Chandra on Tuesday broke his silence on media reports that cast aspersions on the proposed ZEEL-SONY mega-merger and challenged Invesco to come out with the truth and credentials of the six members whom it wants on the board.

The board meeting held on 21st September 2021, had unanimously provided approval for the merger. The Board had evaluated not only on financial parameters but also on the strategic value. Punit Goenka will continue as the Managing Director and Chief Executive Officer after the merger.

Dr. Subhash Chandra on Tuesday broke his silence on media reports that cast aspersions on the proposed ZEEL-SONY mega-merger and challenged Invesco to come out with the truth and credentials of the six members whom it wants on the board. In a video message issued, Dr Subhash Chandra, the founder of Zee TV and Zee Media, also highlighted how the proposed merger plan was in the best interest of all shareholders and dared Invesco to reveal their plan if they had any.

ZEEL's founder Dr. Subhash Chandra has said that the industry is happy with the merger of ZEEL, SONY Pictures India and the merger has increased the confidence of the shareholders.