Must read! Balaji shareholders refuse to raise Ekta Kapoor’s salary
Balaji Telefilms shareholders have reportedly rejected a proposal to raise Ekta Kapoor and Shobha Kapoor’s salaries for the coming year.
Sep 11, 2021 2:04 PM
MUMBAI: Balaji Telefilms shareholders have reportedly rejected a proposal to raise Ekta Kapoor and Shobha Kapoor’s salaries for the coming year. Ekta is the deputy general manager, while Shobha is the general manager.
According to reports, the general assembly was held on August 31 and the results were announced on September 2. While 55.4% of the votes were against Ekta’s compensation proposal, 56.7% of the votes were against Shobha’s proposal.
But only a small group of public shareholders participated in the vote. The promoter group, which holds 34.34% of the capital, abstained from voting. The publication also said that Reliance Industries, which owns 24.92% of the company’s capital, also did not participate in the vote on the special resolution.
“This is a very special case. When neither the promoter, nor the large public shareholders or the FII have voted. It remains to be seen whether there is a clause preventing promoters from voting on this particular resolution as part of the share purchase agreement, ”said Amit Tandon, Founder and CEO of Institutional Investor Advisory Services ( IiAS).
Shobha was paid 2.1 crore in FY21. Ekta did not receive compensation in FY21 because she waived her salary of ₹ 2.5 crore to provide financial assistance to his employees.
Credit: Hindustan Times