Zee Entertainment Shareholders Veto Punit Goenka's Reappointment

Shareholders of Zee Entertainment have voted against the reappointment of Punit Goenka as director. In the recent AGM, only 49.54% supported his reappointment while 50.4% were against it. Although other resolutions were passed, this outcome signifies a significant setback for Goenka, who remains CEO.

In a surprising turn of events, shareholders of Zee Entertainment Enterprises Ltd (ZEEL) have blocked the reappointment of Punit Goenka as director, as stated in a recent regulatory filing.

The resolution for Goenka's reappointment, number three on the agenda during the annual general meeting (AGM), was narrowly defeated with only 49.54% of votes in favor against 50.4% opposed.

This result dealt a considerable blow to Goenka, currently serving as CEO, following advisement from proxy firms to reject the proposal. Other resolutions, including financial statements adoption, dividend declaration, and auditor remuneration ratification, were approved.

(With inputs from agencies.)