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Established in November 1994, Balaji Telefilms and its subsidiaries have given the Indian as well as international audience some much-loved shows and movies. Headed by mother-daughter duo Shobha Kapoor and Ekta Kapoor, respectively, the latest we hear now is that the shareholders of the company are not happy with the duos remunerations.
As per a recent report, Balaji Telefilms intends to reduce the salaries of the mother-daughter duo as well as take away the commission they earn. Read on to know all about it.
A report by Bollywood Hungama, Balaji Telefilms – on November 15, said that it is intending to seek approval from its shareholders to reduce the remunerations of Ekta Kapoor – Joint Managing Director, and Shobha Kapoor – Managing Director. The site noted that at the annual meeting held on August 31, 2021, the shareholders of the company had rejected the proposed remunerations for the Kapoor duo which included a commission – not exceeding 2.5 per cent, with immediate effect from November 10, 2021, for the period of two years.
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As per the report, at the 24th AGM of Balaji Telefilms (held on August 31, 2018), the shareholders approved that Shobha Kapoor and Ekta Kapoor will be re-appointed as Managing Director and Joint Managing Director respectively. This would be for a period of five years – until November 9, 2023. At the 27th AGM (held on August 31, 2021), Shobha’s remuneration proposal received only 43.23 per cent votes in favour and 56.76 per cent against it. Even the proposal for the increase of remuneration for Ekta received 44.54 per cent votes in favour whereas 55.45 per cent votes were against it.
As per the revised remuneration – which was discussed at the annual meeting in August 2021, Balaji Telefilms has sought a basic salary for Sobha Kapoor and Ekta Kapoor “an amount not exceeding Rs 20 lakh per month (Rs 2.4 crore per annum) without commission not exceeding 2.5 per cent of the net profit”, which was there in the earlier rejected proposal.”
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