The shareholders of Balaji Telefilms have dismissed the proposal of increasing the salary of the company’s Managing Director Shobha Kapoor and Joint Managing Director Ekta Kapoor. According to the information that Balaji Telefilms shared with the Share Market, two extraordinary proposals of an increase could not get necessary acceptance from the shareholders in the Annual General Meeting (AGM) of the company conducted on August 31 2021.
The company said that there were a greater number of votes against the proposals compared to the ones in its favour because of which it could not be passed.
However, as per the company, the shareholders passed another proposal for the appointment of the non-executive independent director of the company for five years from February 11, 2021. As per the rules to pass any extraordinary proposal 75% of votes in AGM are required. Only 43.23% of votes gave a nod to the proposal of giving Shobha Kapoor remuneration for a further period of two more years from November 10, 2021, while 56.76% of votes were against it. There were 44.54% votes in favour of the proposal to increase the salary of Ekta Kapoor while 55.45% were against this proposal.
Amid all this, the third extraordinary proposal of appointing Jason Kothari got approval with 99.77% votes. As per the newest annual report of the company, actor Jeetendra’s wife Shobha Kapoor received a total salary of Rs 2.09 crore, including a salary of Rs 1.95 crore plus necessities of Rs 7.62 lakh. In Balaji Telefilms, billionaire businessman Mukesh Ambani’s company Reliance Industries Limited has a share of 24.91%.
Ekta Kapoor is probably one of the biggest producers of Indian television, the reason she is often referred to as the soap queen of Indian television. Ekta also produces films. Some of her hit shows and films include ‘Bade Achhe Lagte Hain’, ‘Kumkum Bhagya’, ‘Dream Girl’, and ‘Ek Villain’.
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