Balaji Telefilms seeks shareholders approval for reduced remuneration to Kapoors

New Delhi: Leisure agency and manufacturing home on Monday stated it’s looking for approval from its shareholders for fee of lowered remunerations to its Managing Director Shobha Kapoor and Joint Managing Director Ekta Kapoor, with an earlier proposal having been rejected. The shareholders of the corporate on the annual basic assembly held on August 31, 2021, had rejected proposed remunerations of Shobha Kapoor and Ekta Kapoor that included “fee not exceeding 2.5 per cent of the online revenue” for a interval of two years with impact from November 10, 2021.

In a regulatory submitting on Monday, Balaji Telefilms stated it’s looking for approval of members of the corporate by means of distant e-voting course of for particular resolutions of the revised remunerations of Shobha Kapoor and Ekta Kapoor for the remaining interval of two years of their current tenures with impact from November 10, 2021.

Beneath the revised remuneration, the corporate sought approval from the shareholders for a fundamental wage for Sobha Kapoor an quantity not exceeding Rs 20 lakh per thirty days (Rs 2.4 crore every year) with out “fee not exceeding 2.5 per cent of the online revenue”, which was there within the earlier rejected proposal.

The opposite perquisites, allowances and advantages proposed to be given to her remained the identical as the sooner proposal.

Equally, the corporate has additionally sought nod from its shareholders for a fundamental wage for Ekta Kapoor an quantity not exceeding Rs 20 lakh per thirty days (Rs 2.4 crore every year) with out “fee not exceeding 2.5 per cent of the online revenue”, which was additionally there within the proposal that was rejected.

For Ekta Kapoor additionally, the perquisites, allowances and advantages proposed to be given to her remained the identical as the sooner proposal.

“…with due word of resolution of the shareholders, the corporate has re-considered the efficiency and contribution made by Shobha Kapoor and Ekta Kapoor in direction of the expansion/success of the corporate throughout their tenure,” Balaji Telefilms stated in its discover for postal poll to the shareholders.

Additional, after evaluating and assessing the pay scale of the important thing managerial personnels of media and movie business, the corporate stated it has “proposed continuation of fee of identical wage to Shobha Kapoor and Ekta Kapoor which was authorized by the shareholders within the twenty fourth AGM with modifications in different phrases and situation of remuneration i.e. discontinuation of fee.”

The corporate stated on the twenty fourth AGM held on August 31, 2018, the shareholders had authorized re-appointment of Shobha Kapoor as Managing Director and Ekta Kapoor as Joint Managing Director for a interval of 5 years until November 9, 2023 together with remuneration payable for a interval of three years which ended on November 9, 2021.

On the twenty seventh AGM held on August 31, 2021 the proposal to approve Shobha Kapoor’s remuneration for the remaining two years of her tenure acquired solely 43.23 per cent votes in favour and 56.76 per cent had been in opposition to it.

Equally, the proposal for a wage enhance of Ekta Kapoor acquired 44.54 per cent votes in favour whereas 55.45 per cent votes went in opposition to it.