The Company has denied allegations of a whistleblower on undue advantage to the promoters at Company’s expense and provided the necessary clarifications. The allegation – Reports surfaced in media that a whistleblower has made a complaint that Asian Paints (APL) entered into a transaction with one of it’s ex-employees Jayram Nadkarni and the company founded … Read more
Recently there has been a lot of tussle going on in between Zee Entertainment and Invesco (it’s largest shareholder with 17.88% stake). It started with Invesco requesting for an EGM to seek a major management reshuffle in mid September 2021, effectively taking the company out of promoter’s control. As Zee chose to ignore the request, … Read more
The move is reasoned as due to the failure by Zee to call for EGM as requested by Invesco – to remove Puneet Goenka and appoint 6 new independent directors proposed by Invesco. It’s difficult to defend the decision because – As per regulations, Zee still has time till October 3, 2021 to call for … Read more
The Company informed exchanges of having receipt a letter from shareholders owning 17.88% of the Company – Invesco Developing Market Fund and OFI Global China Fund LLC. The letter sought for calling an Extraordinary General Meeting (EGM) proposing some significant management changes – Removal of Mr Puneet Goenka – the Promoter Managing Director Removal of … Read more