Invesco Fund, which owns 18 per cent of Zee Entertainment Enterprises, has reiterated its demand to oust Punit Goenka, current CEO and MD, from the board and induct its six nominees on Zee board.

In a letter to the ZEEL board, Invesco said the newly constituted board supported with the strength of independence will be best suited to evaluate and oversee potential for strategic transactions like the one announced on September 22 with Sony, as well as to make determinations on the future leadership of the company.

When contacted, a ZEEL spokesperson said: “The Board is seized of the matter. The Company will take the necessary action as per applicable law.”

Invesco & Oppenheimer said disclosure of September 22 2021 by Zee Entertainment with respect to the Sony deal, is symptomatic of the erratic manner, in which important and serious decisions have been handled at the company, Invesco said, as per TV reports.

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