Punit Goenka

Large investors now assert their right to have a say in investee companies, underscore analysts

Stock rises after shareholders reject Punit Goenka's reappointment as a director

The shareholders of Zee Entertainment have rejected a proposal for the reappointment of Punit Goenka as director, as per its regulatory filing

The shareholders of Zee Entertainment have rejected a proposal for the reappointment of Punit Goenka as director, according to a regulatory filing by the company. The filing by Zee Entertainment Enterprises Ltd (ZEEL) stated that the resolution for the reappointment of Goenka was defeated in the annual general meeting (AGM) of the company. Resolution number three in the AGM, which proposed the reappointment of Goenka as director, was supported by only 49.54 per cent of the total number of votes cast while 50.4 per cent voted against the resolution. "Resolution No. 3 (Goenka's reappointment) failed to get the requisite majority of votes as required under the provisions of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015," ZEEL said. This is a major setback for Goenka who is currently the CEO of the company. Several proxy firms had earlier advised the shareholders to vote against resolution number three. However, the three other .

ZEE Entertainment CEO Punit Goenka, who resigned from the post of Managing Director last week, has also withdrawn himself from reappointment for the post in the coming AGM, according to an exchange filing. While sharing Goenka's resignation letter to exchanges on Saturday, Zee Entertainment Enterprises Ltd (ZEEL) said he is "withdrawing his consent for his re-appointment as Managing Director of the company as proposed in the Notice of the ensuing Annual General Meeting. Earlier on October 18, 2024, the ZEEL board approved the proposal for Goenka's reappointment for a five-year term, effective from January 1, 2025, to December 31, 2029. Goenka's present tenure as Managing Director & CEO of the company was scheduled to finish at the 2024-end. Goenka's re-appointment was subject to approval from the shareholders, in the coming AGM, which is scheduled to be held on November 28. However, on November 18 Punit Goenka, son of media baron Subhash Chandra, resigned as the Managing Director .

Zee Entertainment stock rose 9% in intra-day deals on Tuesday, and was on the verge of confirming a breakout on the daily chart yet again in 2024. The last 3 breakouts turned out be false, show charts

Thus far in calendar year 2024, the market price of ZEE has more-than-halved, or tanked 56 per cent, as compared to the 8 per cent rise in the BSE Sensex

He intends to dedicate his time and energy towards the set goals for the company's future, ZEE Entertainment Enterprises said in a press release

The board of Zee Entertainment Enterprises Ltd (ZEEL) has enhanced the performance targets for its MD and CEO Punit Goenka for his re-appointment, according to a regulatory filing by the company. In its meeting held on Friday, the board of ZEEL "considered and approved higher targets to evaluate the performance of Punit Goenka which includes Quarterly Consolidated Revenue Outlook for next 4 quarters (commencing Q3FY25), Quarterly Consolidated EBITDA Outlook for next 4 quarters (commencing Q3FY25) and payout of 25% of consolidated net profits as dividend to the shareholders of the Company." Now the board will track the performance of Punit Goenka based on the above-mentioned targets, it said. Earlier on October 18, 2024, the board of ZEEL approved the proposal for Goenka's re-appointment for a five-year term, which will be effective from January 1, 2025, to December 31, 2029. However, Goenka's re-appointment would be subject to approval from the shareholders, it added. Moreover, th

Maverick Media is promoted by Vistaar Entertainment and focuses on expanding the large-screen cinema experience across India

The company is aiming to avoid investing in high-cost films while focusing on frugality and quality content

ZEE Entertainment Enterprises Ltd on Wednesday announced a streamlined organisational structure with its MD and CEO Punit Goenka assuming direct charge of critical verticals, including domestic broadcast business. Under the new organisational structure approved by its board, ZEE Entertainment Enterprises Ltd (ZEEL) will have four key business segments -- broadcast, digital, movies and music. Punit Goenka's brother Amit Goenka, who currently heads the digital business has been given additional charge of the international broadcast, enterprise technology, broadcast operations and engineering. He will also take direct charge of original content, including movies, the company said in a statement. In the domestic broadcast business, Siju Prabhakaran, who has led the South cluster of channels, will take additional responsibility of the West cluster. Similarly, Samrat Ghosh, head of East cluster of channels, will take additional responsibility of North and Premium clusters. Ruchir Tiwari

In the new lateral structure, Punit Goenka, MD & CEO, has proposed the elevation of certain team members across businesses

In January of this year, Japan's Sony Corporation decided to withdraw from a merger of its India unit with Zee, leading to a decline in Zee's share price

A special committee has been formed to offer strategic guidance, which includes achieving the targeted 20% Ebitda margin set forth by the MD & CEO

The market regulator is investigating the alleged fund diversion by Chandra and his son Punit Goenka, who is also the managing director and chief executive officer of Zee

Zee Entertainment Enterprise Ltd on Saturday announced the resignation of Rahul Johri and changes in the revenue vertical of the broadcast business implemented by its MD & CEO Punit Goenka. Johri, who was President - Business of Zee Entertainment Enterprise Ltd (ZEEL), and heading revenue and monetisation, has resigned after a stint of over three years, according to a statement from the company. The company has accepted the resignation of Johri, it added. Besides, ZEEL also announced strategic changes in the revenue vertical of the broadcast business. Now Ashish Sehgal, Chief Growth Officer, Advertisement Revenue, will directly report to the MD & CEO, said ZEEL. "This announcement is the first step towards streamlining the organization, in order to optimize the resource allocation and enhance productivity," it said. Before ZEEL, Johri was the first Chief Executive Officer at the Board of Control for Cricket in India (BCCI) and led Discovery's South Asia operations. Goenka ...

SAT to hear the matter next on March 8, gives 10 days to Sebi to file reply

This comes just a day after media reports suggested that Sebi has found an accounting 'hole' of Rs 2,000 crore in Zee's books

Stock tanks 14% amid reports of 10x fund diversion; Sebi final order expected by mid-April