Media company Zee Entertainment will be holding its 39th annual general meeting (AGM) of the equity shareholders today. Here are a few things to know before the AGM.
1. Ahead of the meeting, two independent directors Manish Chokhani and Ashok Kurien, resigned from the board on Monday after the company's two biggest investors, Invesco Developing Markets Fund and OFI Global China Fund LLC, sought the ouster of three directors, including CEO Punit Goenka.
Proxy advisory firm Institutional Investors Advisory Services (IIAS) had asked the shareholders to vote against the proposal to re-appoint Ashok Kurien on the company's board. However, the two directors stepped down ahead of the AGM with Chokhani citing changed life circumstances and Kurien due to his pre-occupation.