December 06, 2025 02:58 pm (IST)
Follow us:
ZEEL
Zee Entertainment shareholders vote against reappointing Punit Goenka as director
Mumbai/IBNS: Zee Entertainment's shareholders have voted against the reappointment of Punit Goenka as a director, according to a company filing.
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).
The third resolution, which proposed Goenka's reappointment, garnered only 49.54 percent of the total votes in favor, while 50.4 percent voted against it.
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.
This setback is significant for Goenka, who serves as the CEO of ZEEL. Prior to the AGM, several proxy advisory firms had recommended shareholders vote against the proposal.
On the other hand, three other resolutions—concerning the approval of ZEEL's FY'24 financial statements, the declaration of dividends, and the ratification of remuneration to cost auditors—were approved.
ZEEL confirmed that "all resolutions, except for the third resolution," passed with the required majority.
As per the Companies Act, 2013, an ordinary resolution requires more than 50 percent of the votes to pass at an AGM.
Earlier this month, Goenka resigned as the managing director of ZEEL but remained in his role as CEO.
He also withdrew his candidacy for reappointment to the managing director position at the AGM.
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.
On October 18, ZEEL's board had approved Goenka's reappointment for a five-year term, starting January 1, 2025, and running through December 31, 2029.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
India’s UPI is going further global! 8 new countries in talks for payment revolution
Sat, Dec 06 2025
Netflix to acquire Warner Bros. for $82.7 billion — the entertainment world will never be the same
Sat, Dec 06 2025
How to Use a Savings Account Interest Calculator to Maximize Savings
Fri, Dec 05 2025
Buy 24 Karat Gold Online Easily Through the JioFinance App
Thu, Dec 04 2025