The AGM was attended by Zee Group patriarch Subhash Chandra, Goenka, and other independent directors. The AGM was held in the backdrop of ZEEL's largest shareholder, Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund), and OFI Global China Fund LLC, asking the company to call an EGM of shareholders to remove Goenka and two independent directors. The Funds sought appointment of six of their own nominees to the board of ZEEL. The promoters – Chandra's family – own only 4 per cent of the company and had to sell their stake to pay off Rs 13,000-crore debt taken by the promoter entities of ZEEL after defaulting. In his speech, Goenka did not reference the EGM notice sent by Invesco and preferred instead to talk about Zee 4.0 plan. The EGM has to be called within three weeks of the notice sent by shareholders, said a corporate lawyer.