IIAS asks shareholders to vote against directors of Zee Entertainment

Proxy firm raises corporate governance concerns over MD's salary

Proxy advisory firm Institutional Investors Advisory Services (IIAS) has raised fresh corporate governance concerns at Zee Entertainment Enterprises by asking shareholders not to vote for re-appointing independent directors Ashok Kurien and Manish Chokhani on the company's board.
 
Asking shareholders to vote against the proposal to re-appoint Ashok Kurien on Zee Entertainment board, IIAS said Kurien was the founder of the Zee group and while the company has reclassified him as a non-promoter, no requisite regulatory filings or shareholder approval was sought for the same, and hence it classifies him as a promoter. 
 
“Kurien was a member of the