The Bombay high court on March 22 allowed an appeal filed by Invesco Developing Markets Fund against a single-judge order granting interim injunction on holding an extraordinary general meeting of Zee Entertainment Enterprises Ltd. to remove its CEO, Punit Goenka. A division bench of Justices S.J. Kathawalla and Milind Jadhav quashed and set aside the single-judge order of October 2021, and directed that status quo be maintained for three weeks to enable Zee to appeal against the order, in the Supreme Court.
Invesco is the single-largest shareholder of Zee with a 17.88% stake.