Skip to content
Andy Mukherjee

India Is No Place for U.S.-Style Investor Activism

Invesco has lost a round in the fight to oust Zee Entertainment’s family founders from the board, but the battle for control may not be over yet.

Invesco Says Zee Founders Explored Deal with Ambani’s Reliance

Photographer: SOPA Images/LightRocket/Getty

Aggressive, no-holds-barred shareholder activism has met with plenty of cultural resistance in Asia, most notably in Japan and South Korea. Now, it’s India’s turn to curb American investors’ enthusiasm.

Or so it would seem from the latest twist in the fight over Zee Entertainment Ltd., the country’s largest publicly traded television network. “Sometimes, it happens that a company must be saved from its own shareholders, however well-intentioned,” said Justice G.S. Patel of the Bombay High Court, temporarily restraining Atlanta-based Invesco Developing Markets Fund from calling an investors meeting to oust the board.