Will take necessary action as per applicable law: Zee on board reshuffle demand

Two investment firms — Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund LLC, which together hold 17.88 per cent stake in ZEEL — had earlier this month sought an extraordinary general meeting to remove Goenka and two independent directors Manish Chokhani and Ashok Kurien.

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