Zee names three new directors who are autonomous

 Zee names three new directors who are autonomous

Zee names three new directors who are autonomous

In Zee Entertainment Enterprises, Venkat Ramana Murthy Pinisetty, Shishir Babubhai Desai, and Uttam Prakash Agarwal will assume leadership roles as extra directors under the independent director category.

Three more independent directors have been appointed as a result of Vivek Mehra and Sasha Mirchandani receiving insufficient votes.

With effect from December 17, 2023, Zee Entertainment Enterprises Limited (ZEEL) has named Venkat Ramana Murthy Pinisetty, Shishir Babubhai Desai, as well as Uttam Prakash Agarwal as its three new independent directors.

Following the company's annual general meeting (AGM), the media and entertainment conglomerate announced in a stock market filing that the three would assume leadership roles as extra directors under the category of independent directors.

In addition to practicing law and academia, Murthy Pinisetty is a writer and an expert in the fields of organization development and human resources. According to Xie's petition, he is the leader of the Economic Law Practice's (ELP) labor and employment law practice.

In the meanwhile, Desai is a 44-year-old attorney who is a member of the Bombay Incorporated Law Society and the Supreme Court of England and Wales (Non-Practicing) Advocate. In addition, he belongs to the Indian Institute of Company Secretaries.

With over thirty years of expertise in taxes, finance, and restructuring, Agarwal is a chartered accountant who was appointed by RBI Is to work in the fields of statutory audit, income leakage audit, concurrent audit, etc stock audit of public sector banks.

Three new independent directors have been appointed to the Zee board, after the rejection of Vivek Mehra and Sasha Mirchandani due to insufficient votes.

"Sasha Mirchandani and Vivek Mehra have received unanimous praise from the board of Zee Entertainment Enterprises Limited for their noteworthy contributions to the firm during their tenure. The firm said that Mehra and Mirchandani, two illustrious and distinguished figures in the business world, have excellent corporate governance ethics and serve on the boards of several prominent publicly traded businesses.

Chairman of ZEEL, R. "The company's board deeply appreciates the duty he has played and deeply thanks his support and dedication to the company's growth," Gopalan said.

The National Company Law Appellate Tribunal (NCLAT) declined earlier this week to halt Zee Entertainment and Sony's December 15 merger. Nonetheless, the tribunal set a hearing date of January 8 and sent notice in the petition. In the NCLAT, Axis Finance and IDBI Bank had contested the merger.

Zee Entertainment Enterprises (ZEEL) shares ended the day on the National Stock Exchange (NSE) 0.27 percent down at Rs 277.15. The stock has returned about 14% so far this year, just less than the benchmark Nifty 50, which has returned 17% over the same time.