The National Company Law Tribunal (NCLT) on Friday gave Zee Entertainment Enterprises time till October 22 to file its reply to a plea by its minority shareholder Invesco, after appellate body NCLAT ordered the tribunal to give the media major reasonable opportunity to do the same.
The Mumbai bench of the NCLT, comprising Bhaskara Pantula Mohan and Narendra Kumar Bhola, directed Zee Entertainment Enterprises to file its reply by October 22 for further consideration.
The NCLAT had on Thursday directed NCLT Mumbai to give reasonable opportunity to the media major to reply to Invesco’s plea for holding a meeting of shareholders, and also remarked that the tribunal made an “error” by not providing sufficient response time.
While the NCLT is hearing a petition filed by Invesco demanding convening of an extraordinary general meeting (EGM), Zee had approached the NCLAT seeking more time to reply to the petition.
The US-based investment firm had on September 30 moved a petition seeking convening of EGM.