The legal battle between Zee and Invesco is likely to be protracted. The losing side of the NCLT and Bombay High Court judgements will appeal, until the debate reaches the Supreme Court of India. But the courts are a mere distraction: although they will push-back the shareholder meeting to some date in the future, investors will do well to remember that it is their vote alone will decide the future of Zee – not NCLT, not NCLAT, not the High Courts, and not even the Supreme Court. This legal battle between Zee and Invesco is a distraction.

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