The raid is being conducted at the Essel Group Continental office in Mumbai, reports said.
Arbitration proceedings are likely to add to Zee' litigation vows as it stood guarantee to the loan extended to Siti by Aditya Birla Finance
The board, at its meeting held on July 3, 2023, had advised the management to obtain opinion from external and independent experts to consider whether the requisition notice received on June 29, 2023, met the criteria for a valid requisition under the applicable provisions of the Companies Act, 2013 to call an EGM