Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday moved the NCLAT seeking more time to file a reply over the requisition of minority shareholders Invesco and OFI Global China Fund to convene an extraordinary general meeting (EGM).
The petition filed by Zee has been listed for hearing on Thursday before a two-member bench of the National Company Law Appellate Tribunal (NCLAT) comprising Justice Jarat K Jain and Alok Srivastava.
According to the industry insiders, Zee has sought more time to file a reply over the petition filed by its minority shareholders Invesco Developing Markets Fund and OFI Global China Fund and sought a stay over the proceedings going before the Mumbai bench of the NCLT.
On Tuesday, the NCLT had directed ZEEL to give a reply over the petition filed by its minority shareholders by October 7 (Thursday), the next date of hearing.
Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) along with OFI Global China Fund LLC hold 17.88 per cent stake in ZEEL.