Sadhu Samaj slams Invesco's takeover bid of ZEEL
ZEEL Sony
Amid reports of Invesco’s bid to take over Zee Entertainment Enterprises Limited (ZEEL), India’s Sadhu Samaj and several religious and social organisations have come forward to express serious reservations on the issue.
The Sadhu Samaj clearly stated that the control of the company should remain with founder Subhash Chandra and his familywho have taken care of the numerous television channels for over two decades.
Also Read |India and its laws won't let Invesco illegally take over ZEEL: Dr Subhash Chandra
The religious body has appealed to the government, the concerned regulatory institutions such as NCLT and NCLAT, Invesco, the media company behind this indirect bid, Subhash Chandra's family, and the Zee shareholders to sit down and find an amicable solution to this issue.
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It further added that the same Zee management, which has the faith of crores of viewers, should be allowed to continue as it would be in the interest of everyone.“If this does not happen, we all will appeal in the court of the almighty, and pray for the proper judgment,” the group said in a statement.
Also Read |ZEEL-Sony mega-merger- Is Invesco a puppet of Chinese interests?
The group alleged that Invesco seems to be working in a non-transparent manner and it is unclear in whose hands the management will go if they are successful in their bid.
The Sadhu Samaj hailed Subhash Chandra’s decades of service to the nation by broadcasting quality programmes and content.
It recalled that it was Zee that broadcast “Jagran” programme that focused on religious content. Only after this, several other programmes and channels were launched which help impart religious content.
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“In the last 29 years, the country has witnessed how Zee has brought the issues of national and social interest to the viewers,” the religious body said.