NEW DELHI: Shares of continued their slide and shed 1.5% in early Mumbai trade on Friday, as the battle to wrest control of the company took a fresh turn after the National Company Law Tribunal (NCLT) directed the television network giant to consider majority shareholder Invesco’s request for convening an extraordinary general meeting.
At 09:50 hours (IST), shares of Zee Entertainment Enterprises traded at Rs 298.60, down 1.52%, on the National Stock Exchange.
The NCLT gave the order on Thursday, and the matter will be next taken up on Monday.
While hearing the plea made by Invesco, NCLT said it was the mandate of the law that an EGM should be called by Zee, and not a discretionary matter for the board.
