‘On whose directions Invesco is acting?’ Dr Subhash Chandra asks tough questions making Invesco uncomfortable

For the past few days, especially after the mega-merger announcement between ZEE Entertainment Enterprises Limited (ZEEL) and Sony Pictures Networks India (SPNI), some media houses are publishing baseless and hollow reports to fight a losing battle against ZEEL, and especially against Punit Goenka as he will continue as the Managing Director (MD) and Chief Executive Officer (CEO) of ZEEL.

Some media reports are falsely citing Invesco’s version to take on ZEEL MD & CEO Punit Goenka but in vain. These reports have failed terribly in their mala fide attempt to malign the image of esteemed organisation – ZEEL and its MD & CEO Punit Goenka. The reports lacking truth have fallen flat on the face of their publishers as Dr Subhash Chandra – Founder, Zee Entertainment Enterprises Limited, himself has come forward to clear the air on Invesco, ZEEL and Punit Goenka. The facts-laden statement by Dr Subhash Chandra – Founder, Zee Entertainment Enterprises Limited has now left no room for any confusion and will leave publishers of false and baseless reports red-faced.

“No matter who runs ZEEL but the company, to which I’ve and many of my friends have given their blood and sweat for the past 30 years, should be in the hands of someone under whose leadership the organisation should prosper and shareholders should be benefitted since I don’t have any profit or loss associated with this,” said Dr Subhash Chandr as he spoke on the matter. 

“I wanted to give an interview to my friends at CNBC and Moneycontrol but they won’t take it neither run it because it seems although he is a friend of mine but has a vested interest in the entire matter; I don’t know whatever it is but I wish God give him good sense and wisdom,” he added.

Talking about the Invesco, Dr Chandra said, “Invesco is a good investor but in this case of ZEEL they are not revealing that what they will do after taking ZEEL, and in whose hands management will go?”

“You want to remove Punit Goenka? Okay, fine but what next? Have you done any deal with someone? The 6 directors given by them – what’s their background? Do they have any relation with any particular company that wants to take over? Hence, Invesco should come out transparently and openly, and let the shareholders decide – whether they want to take the deal of Invesco or want to go with Sony’s deal, “Dr Chandra said posing some really tough questions to Invesco.