Zee Entertainment’s (ZEE’s) largest shareholders, Invesco Developing Markets Fund and OFI Global China Fund LLC, which together hold 17.88 percent of the entire paid-up share capital of the corporate , during a letter on 9/11 , called a unprecedented general meeting (EGM) seeking removal of Punit Goenka, Manish Chokhani and Ashok Kurien as Directors of the firm, the corporate said during a regulatory filing on September 13.

Punit Goenka is that the director and chief military officer of the media company.

The two funds have sought to appoint six new independent directors, the filing added.

The proposed directors are Surendra Singh Sirohi, Naina Krishna Murthy, Rohan Dhamija, Aruna Sharma, Srinivasa Rao Addepalli, and Gaurav Mehta.

However, the shareholders said, “We understand that the corporate is required to hunt an approval from the Ministry of data and Broadcasting (“MIB”) in reference to the appointment of the Proposed Independent Directors. Accordingly, we request that the corporate submit an application with the MIS seeking approval for the appointment of the Proposed Independent Directors at the earliest.”
In a separate filing, the corporate announced that Manish Chokhani and Ashok Kurien have resigned from the position of Non-Executive Non-Independent Directors of the firm with immediate effect.

While Chokhani had cited changed circumstances and perspective post COVID, Kurien had reasoned his pre-occupation for the resignation, the firm said informed during a regulatory filing.

The resignation comes after advisory firm IIAS, as per reports, had advised institutional investors to vote against the reappointment of Ashok Kurien and Manish Chokhani as Independent Directors on the Board of Zee Ltd within the AGM slated to be persisted