Zee Entertainment Cancels Its Board Meet For Tomorrow

In a relief to Zee Entertainment, in Zee-Invesco row wherein the later demanded the conduct of an EGM, the Bombay High Court granted injunction.

On October 22, the court reserved its order when Zee was arguing that the EGM call by its largest shareholder was illegal as well as invalid.

Amid this the company has cancelled its board meet scheduled for October 27 for considering financial results for the Q2 period. The meeting has been cancelled due to lack of quorum and a new date would be announced in a fresh notice, the company told exchanges on October 25.

"This is to inform that a meeting of the Board of Directors of the Company, which was scheduled to be held on Wednesday, October 27, 2021, inter alia, to consider and approve the unaudited financial results of the Company both on standalone and consolidated basis for the 2nd quarter and half year ended September 30, 2021, has been cancelled due to lack of quorum," the company said on October 25.

"Further, the Trading Window for dealing in securities of the Company which stands closed from October 1, 2021, in pursuance of Company's Insider Trading Code, shall remain closed till 48 hours after the announcement of Un-audited financial results of the Company for the 2nd quarter and half year ended September 30, 2021," the exchange filing added.

Invesco the company's largest shareholders has been demanding an EGM for the ouster of the company's MD Punit Goenka and the appointment of six new independent directors.

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