Tuesday, February 7, 2023

RIL’s major statement on the merger with Zee was drafted, and Puneet Goenka was suggested as the MD and CEO

In the case of Zee Entertainment Enterprises Limited (ZEEL) and Invesco, a watershed moment has arrived.

Case ZEEL-Invesco: In the case of Zee Entertainment Enterprises Limited (ZEEL) and Invesco, a watershed moment has arrived. Invesco appears to be stumbling into its own quagmire. Invesco stated in a statement that it attempted to integrate Zee with Reliance. Reliance has now published a statement on the subject. According to Reliance, it wanted to merge Media Properties with Zee but couldn’t agree on the share. However, after the merger, Reliance indicated that Puneet Goenka will remain as MD and CEO. ‘We regret to be named in the disagreement between Zee and Invesco,’ Reliance stated in a statement in response to Invesco’s statement. The news that is being circulated in the media is inaccurate.

Invesco had aided in the merger negotiations.

Experts also believe that Invesco’s role in the situation is unclear. This matter must now be investigated by SEBI and other agencies. Meanwhile, according to a statement released by Reliance, Invesco assisted Reliance in direct conversations between our agents and Zee’s founding family member and Managing Director Punit Goenka in February-March 2021.

There was a large merger proposal. We had made a major proposition to ZEE to integrate our media businesses. ZEE’s and all of its properties were valued fairly. The ZEE and our properties’ appraisals were set on the same parameters. The plan aimed to combine the power of all merging entities and protect everyone’s interests, including ZEE’s stockholders.

Reliance has always believed in keeping the present management of the investment businesses after the merger with Puneet Goenka as MD. Not only that, but it also compensates them for greater performance. As a result, Punit Goenka was claimed to be retained as Managing Director in the merger proposal (MD).

Read More: Dussehra 2021: Do one item on Dussehra that corresponds to your zodiac sign, and you will always triumph over your adversaries

However, disagreements erupted between Goenka and Invesco about boosting the founding family’s holdings through preferred warrants, which had generated controversy. Founders may always acquire more stock on the market, according to investors. We have never engaged in any hostile transactions at Reliance since we respect all of the founders. As a result, we decided to back out of the agreement.

Although those who know this matter well must say that the names of the 6 Board of Directors suggested by Invesco are somehow related to Reliance and SEBI or other agencies in this matter, the names of the 6 Board of Directors suggested by Invesco are related to Reliance and SEBI or other agencies in this matter. This has to be looked into.

Let us inform you that at the company’s EGM on October 22, Invesco attempted to illegally replace the board of directors of Zee Entertainment. Invesco is attempting to hold an EGM for the appointment of six independent directors on a regular basis. This authority, however, resides with the board, and NCLAT has given Zee Entertainment till October 22 to react.



Please enter your comment!
Please enter your name here

Most Popular


Rubina Dilaik Photos: TV actress flaunting her saree showed her killer moves!

Rubina Dilaik Photos: TV's 'Kinnar Bahu' Rubina Dilaik remains very active on Instagram. Hasina has shared new photos on Instagram some time ago, in...

Meet billionaire Kumar Mangalam Birla’s daughter Ananya Birla, who is a singer, songwriter, businesswoman

 Who is Ananya Birla: Ananya Birla is the eldest child of billionaire Kumar Mangalam Birla. He was recently inducted as the director of Aditya...

Government of India banned these 232 apps with loan and betting, had relation with China!

HIGHLIGHTS The central government has banned 138 betting apps and 94 loan apps. These apps have been banned by the government under IT Act...

Vivo X90 and Vivo X90 Pro launched globally, will now enter India! Read here the full details

HIGHLIGHTS Vivo X90 and Vivo X90 Pro smartphones have been launched globally. Along with the global debut, both these mobile phones will now be...

Weekly Love Tarot Horoscope: Love will rise in Valentine’s week, which zodiac sign’s love life will be wonderful?

Valentine Week Horoscope: According to the weekly love horoscope, the second week of February is going to be special in many ways. This week...

Most Popular


* indicates required