Zee Entertainment Enterprises Ltd (ZEEL) on Monday said its promoter Subhash Chandra has resigned as chairman of the company's board, with immediate effect.
The company's board has accepted the resignation, ZEEL said in a regulatory filing.
"The board accepted his resignation and noted that this is in line with the requirements of Regulation 17(IB) of Sebi Listing Regulations, which inter alia mandates that the chairperson of the board shall not be related to the managing director or the chief executive officer of the company," the company said.
Chandra will remain the company's non-executive director, it added.
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