Balaji Telefilms said on November 15 that it intends to seek approval from the company’s shareholders to reduce the salaries of Ekta Kapoor, Joint Managing Director, and Shobha Kapoor, Managing Director of Balaji Telefilms. At the annual meeting held on August 31, 2021, the company’s shareholders had rejected the proposed fees for the mother-daughter duo, which included a commission not exceeding 2.5 percent with effect from November 10, 2021, for a period of two years. . .
According to the report, at the 24th Annual General Meeting held on August 31, 2018, the shareholders approved that Shobha Kapoor and Ekta Kapoor will be reappointed as Managing Director and Joint Managing Director respectively for a period of five years until November 9, 2023. At the 27th General Assembly held on 31 August 2021, Shobha Kapoor’s remuneration proposal received only 43.23 per cent in favor and 56.76 per cent against. Similarly, for the salary increase for Ekta Kapoor, the proposal received 44.54 percent of the vote in favor, while 55.45 percent was against.
According to the revised fee discussed at the annual meeting in August 2021, the company sought a base salary for Sobha Kapoor and Ekta Kapoor “an amount not exceeding Rs 20 lakh per month (Rs 2.4 crore per year) without” “a commission not exceeding 2.5 percent of net profit”, which was in the previous proposal that was rejected “, according to the Economic Times.
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