The Bombay High Court has given temporary relief to ZEE Entertainment Enterprises Limited over its dispute with its biggest shareholder Invesco.
The latter had been demanding an Emergency General Meeting (EGM) to discuss the ZEE board and to remove Punit Goenka as its CEO.
The ruling is expected to be challenged by Invesco in a higher court. Meanwhile, ZEE was rallying over 6% on the Bombay Stock Exchange after the verdict earlier today.
A ZEE spokesperson in a statement said, “The decision taken by the Hon’ble Bombay High Court is a huge win for all the stakeholders of the Company.”
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