Shriram Subramanian, MD,
InGovern.
On the high court rejecting Invesco’s claim for calling an AGM
Yes, the high court seems to have granted an injunction. One needs to see what the final order will be later in the day. This seems to be positive as far as Zee is concerned. It also needs to be seen how Invesco will pursue this further at the end of the day because they have initiated it in NCLT and the jurisdiction of NCLT is completely different. And whether Invesco will also challenge this at the Supreme Court is something that one needs to see.
If this is challenged at all, it would obviously have to go to the Supreme Court?
Yes, I would think so, probably at the Bombay High Court division bench and then subsequently to the Supreme Court. It is not clear as of now because there is also the jurisdiction of NCLT and then this one but as of now, the Bombay High Court decision seems to be in favour of Zee.
