Balaji Telefilms shareholders have rejected resolutions pertaining to remuneration of Managing Director Shobha Kapoor and Joint Managing Director Ekta Kapoor. According to a stock exchange disclosure, the remuneration deal failed to garner the requisite votes.
Of the 2,07,927 votes polled for the approval of the remuneration deal for Shobha Kapoor, 89,887 were in favour and 1,18,040 were against the resolution. This translates to 56.76 per cent votes against and 43.23 per cent votes for the deal.
Out of the 2,07,927 votes polled, 92,629 votes were in favour and 1,15,298 were against the resolution that sought approval for the remuneration deal for Ekta Kapoor. The disclosure stated that 55.45 per cent voted against and 44.54 per cent voted for the resolution.
The voting was done during the 27th Annual General Meeting, held on August 31.
Balaji Telefilms was incorporated on November 10, 1994 and went public on February 28, 2000. The company with offerings such as Kyu Ki Saas Bhi Kabhi Bahu Thi, Kahaani Ghar Ghar Kii, Bade Achhe Lagte Hai, Pavitra Rishta, Naagin soon became one of the leading entertainment houses in the country. The company popularised the concept of ‘Saas-Bahu’ serials and its shows are usually referred to as K-serials as most of the earlier show titles began with the letter K.
After unprecedented success in the small screen, the company forayed into the silver screen with the launch of its subsidiary Balaji Motion Pictures in 2001. But as digital content moved into focus, the company started ALTBalaji as a subscription-based video on demand service in 2017.
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