ZEEL gets time till October 22 to respond to Invesco’s plea

New Delhi: The National Company Law Tribunal (NCLT), on Friday (October 8), has given Zee Entertainment Enterprises Ltd (ZEEL) time till October 22 to respond to its investor Invesco’s plea. 

The NCLT order has come a day after the National Company Law Appellate Tribunal (NCLAT) had directed it to provide reasonable time to ZEEL to respond to the plea seeking to convene a meeting of the company's shareholders. 

In its 15-page order, NCLAT had noted that NCLT hadn’t provided adequate to ZEEL. "It is clear that the Learned NCLT has committed an error in not granting reasonable and sufficient time for filing a reply, which is a complete violation of Rule 37 of NCLT Rules and Principles of Natural Justice," the appellate tribunal said in a 15-page order. 

ZEEL had approached NCLAT on October 6, seeking to quash an NCLT order that had sought a reply from the entertainment company by October 6. "... We are of the opinion that reasonable and sufficient opportunity should be given to the appellants for filing a reply," the NCLAT added in the order.

A ZEEL spokesperson had previously said that the company continues to have full faith in the Indian judicial system and will take all the necessary steps that are in the best interests of all its shareholders. Also Read: Motorola Moto E40 with 90Hz LCD, 48MP main camera launched

While NCLAT hadn’t mentioned how much time should be given to ZEEL to respond, the NCLT has now asked ZEEL to file its response by October 22. Also Read: DA hike: Odisha government increases dearness allowance of employees, pensioners by 11%

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