ZEEL shareholders reject reappointment of Punit Goenka as Director
At ZEEL's 42nd AGM, 50.4% of the votes were against the proposal for Goenka's reappointment, said the company in its regulatory filing
On The Move
The shareholders of Zee Entertainment Limited (ZEEL) rejected proposal to elect CEO Punit Goenka as Director at the 42nd Annual General Meeting held on November 28, 2024.
The company notified BSE that the case for Goenka's re-election as Director, resolution number 3 at the AGM, received 49.54% support through e-voting only and 50.4% were against the resolution.
“Except for the Resolution No. 3 all the aforesaid resolutions were passed with requisite majority. Resolution No. 3 failed to get requisite majority of votes as required under the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,” informed the company.
Goenka, currently the CEO, resigned from the post of MD and had withdrawn himself from being reappointed . In October this year, the board of ZEEL approved proposal to reappoint Goenka for a five-year term from January 2025 to December 2029.
Goenka approached the board earlier, saying that he wants to relinquish his position as the MD and focus entirely on his operational responsibilities as the CEO.
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