Bombay HC grants injunction in favour of Zee in dispute with Invesco

Zee had said it was unwilling to hold an extraordinary general meeting of shareholders as requested by Invesco, its largest shareholder.

The Bombay High Court on Tuesday granted an injunction in favour of Zee Entertainment Enterprises Ltd. in its dispute against Invesco Developing Markets Fund and OFI Global China Fund LLC, giving the TV network respite in its boardroom fight with the company’s shareholders.

A single-judge bench of the court said it has decided to grant an injunction, Bloomberg Quint and Economic Times websites reported. Zee had said it was unwilling to hold an extraordinary general meeting (EGM) of shareholders as requested by Invesco, its largest shareholder.

Gopal Subramanium, the lawyer appearing for Zee in the High Court, had said before the board