The founder of Zee appeared in a rare appearance on the media company’s Hindi news channel late on Wednesday, accusing the company’s investor Invesco of plotting a hostile acquisition.
Subhash Chandra, founder of Zee TV in the early 1990s, said: “I urge Invesco to act as a partner, not an owner.
Invesco did not immediately respond to a request for comment.
Earlier today, Zee Entertainment Enterprises Ltd. stayed the National Company Law Appeal (NCLAT) by order of the National Company Law Tribunal (NCLT).
On Tuesday, the NCLT asked Gee to respond by October 7 to Invesco’s petition seeking a legal injunction to hold an extraordinary public meeting (EGM).