Zee Appeals To Bombay HC Over ‘Illegal & Invalid' Letter From Top Shareholder
Zee Entertainment Enterprises Ltd has filed a petition with the Bombay High Court, claiming that a demand letter given by its top shareholders, Invesco-Developing-Markets-Fund and OFI-Global-China-Fund, is "illegal and invalid." The company, on Oct 2, informed the National Stock Exchange and Bombay Stock Exchange of the latest development. Earlier, Zee Board stated that the request had numerous legal flaws.