Zee Entertainment: 2 Independent Directors Rejected, 3 Appointed

New Delhi, Dec 17 (PTI) Two independent directors of media major Zee Entertainment Enterprises Ltd (ZEEL) failed to get shareholders' nod for their reappointment after completing their tenure, according to a regulatory filing by the company.

The shareholders of ZEEL in the AGM held on December 16, 2023, rejected the two special resolutions seeking re-appointment of two independent directors -- Vivek Mehra and Sasha Mirchandani.

Resolution for the reappointment of Mehra could get only 47.95 per cent votes of the total votes polled, while Mirchandani received 71.2 per cent.

The Companies Act mandates that a special resolution has to be passed by a super majority, which refers to at least 75 per cent of the members voting in favour of it.

Besides, an ordinary proposal for the reappointment of Adesh Kumar Gupta, as director of the company, who retires by rotation was also there.

However, he resigned last week and the resolution became infructuous.

In a separate filing, ZEEL also informed the appointment of three new independent directors -- Venkata Ramana Murthy Pinisetti, Shishir Babubhai Desai and Uttam Prakash Agarwal.

These appointments are for a term of three years effective from December 17, 2023.

These appointments are "subject to the approval of the members of the Company," it added.