Shareholders block Zee promoters’ stake hike bid
Mumbai: Zee Entertainment Enterprises Ltd failed to secure shareholder approval for its proposal to issue fully convertible warrants to promoter group entities on a preferential basis at an extraordinary general meeting (EGM) on Thursday.
The rejection of the resolution highlights growing shareholder concerns over corporate governance and promoter influence, market watchers said.
While 60% participating shareholders voted in favour of the resolution at the EGM, it fell short of the 75% threshold required for special resolutions under company law.
