Zee Entertainment shareholders vote against reappointing Punit Goenka as director

In a regulatory update, Zee Entertainment Enterprises Ltd (ZEEL) confirmed that the resolution to reappoint Goenka was rejected during the company’s annual general meeting (AGM). 

ZEEL noted that the resolution did not receive the necessary majority as required under the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ZEEL confirmed that "all resolutions, except for the third resolution," passed with the required majority.

Earlier this month, Goenka resigned as the managing director of ZEEL but remained in his role as CEO. 

Zee Entertainment communicated Goenka's resignation to the stock exchanges, stating that he was "withdrawing his consent for his re-appointment as managing director of the company," as initially proposed in the AGM notice.