New Delhi: Zee Entertainment MD & CEO Punit Goenka on Thursday said he would continue to take the steps needed to keep the company and his future under his council guidance, in the midst of the media’s biggest shareholder battle, which called for the elimination of the office.
Violating his silence after almost a month since the council war began, Goenka questioned Investco’s intention because it did not make the proposed public deal with the previous RIL.
“Why does Investco not make his plan in public? …
Is good corporate governance only valid for corporate and not their institutional investors?” Goenka said.
Investco, along with the Global Global China Fund LLC, held nearly 18% in ZEE and has suppressed an extraordinary general meeting (RUGM) to discuss various problems, including the elimination of Goenka and the appointment of its nominance on the company’s board.
According to Goenka, the fight with Investco is to ensure that ZEE continues to get a growth opportunity and become a stronger player in the media and entertainment sector.
Goenka said that he would not let anyone have an impact on the future Zee or reducing the value of shareholders has consistently produced for years.
“What I took was to preserve the future of this company, and not my position,” he said.
Goenka said the agreement was negotiated with dependence, which however could not be wasted by Investco, and then he presented the facts before the Zee Board to “bring the truth for the benefit of all our stakeholders”.
“I acknowledge the attitude that has been taken by Investco but communication related to the proposal is always well documented, and they speak the opposite.
I also have many points to be included, but I strongly believe that there is time and the right place for it,” he said .
Zee asked why Investco did not make a public plan beforehand
