Days after the National Company Law Tribunal (NCLT) asked Zee's board to consider Invesco Developing Markets Fund and OFI Global China Fund LLC’s request for an Extraordinary General Meeting (EGM), Zee Entertainment Enterprises Limited (ZEEL) filed a suit before the Bombay High Court requesting it to declare shareholders Invesco Developing Markets Fund and OFI Global China Fund LLC’s requisition to hold an extraordinary meeting (EGM) illegal and invalid, the company said on Saturday. HP Ranina, economist, corporate lawyer, Hetal Dalal, president and COO, IiAS, and JN Gupta, former ED, Securities and Exchange Board of India and managing director at Stakeholders Empowerment Services, discussed this further.

National Company Law Tribunal (NCLT) must make a mandatory order on Extraordinary general meeting (EGM) being called, said senior advocate Mukul Rohatgi, who was representing Invesco Developing Markets in the NCLT hearing.

The RBI has superseded the board of Srei Infrastructure Finance Ltd & Srei Equipment Finance Ltd, and has appointed an administrator.

SREI Group said that it is in talks with lenders to restructure its debt and has submitted investment proposals to the RBI for its consideration.