ZEEL shareholders reject the reappointment of two independent directors
Zee Entertainment Enterprises Limited (ZEEL) shareholders have rejected the reappointment of Vivek Mehra and Sasha Mirchandani as independent directors at the annual general meeting (AGM) on Saturday while approving the appointment of Deepu Bansal as an independent director.
The special resolutions seeking the reappointment of Mehra and Mirchandani as independent directors didn't receive the requisite 75% yes votes from the shareholders.
Only 47.95% and 71% of the votes were cast in favour of the special resolution for the reappointment of Mehra and Mirchandani as independent directors. The special resolution for Bansal's appointment as an independent director was approved with 99.84% of the vote.
The ordinary resolution to appoint a director in place of Adesh Kumar Gupta, Non-Executive Director, who retires by rotation and, being eligible, offers himself for re-appointment, became infructuous due to his withdrawal from getting reappointed.
«The Board of Zee Entertainment Enterprises unanimously applauds Mr.
Sasha Mirchandani and Mr. Vivek Mehra for their significant contribution made towards the company during their association.
As two distinguished and noteworthy names in the corporate sector, Mr. Mirchandani and Mr.
Mehra are on the boards of several leading publicly listed companies and have inculcated strong corporate governance ethics over the years,» said ZEEL chairman R. Gopalan.
He added that the ZEEL board strongly appreciates the role played by them and deeply acknowledges their support and contribution towards the growth of the company.
Meanwhile, the company has appointed Venkata Ramana Murthy Pinisetti, Shishir Babubhai Desai, and Uttam Prakash Agarwal as additional directors in the category of
