During a vote by the shareholders of the Balaji Telefilms production house, the salary proposals of Managing Director Shobha Kapoor and Codirector Kapoor Ekta General were rejected.

The two special resolutions for the two-year salary from 10 November of the Duo Mother-Girl did not receive sufficient votes, an equity deposit by the company showed. Resolutions for Shobha Kapoor’s salary received only 56.76 percent of the votes while Ekta Kapoor’s salary resolution received 55.45 percent of the votes. A 75 percent majority is needed to transmit these special resolutions.

In particular, the promoter group holding nearly 34.35 percent of the shares of the Company abstained from voting on both resolutions, the filing of the exchange showed. However, the promoting groups voted other ordinary business resolutions.

In addition, 207,927 votes were Casted on these two resolutions on a total of nearly 10.11 crore votes.

From public participation of 65.65 percent, foreign portfolio investors hold 18.43 per cent, individual shareholders hold 12 percent and Reliance Industries Ltd. hold a participation of 24.92 percent in the company.

“This is a very special case. When the promoter or the large public shareholders or II voted. It remains to be seen if there is a clause that prevents the proponents of their vote on this resolution under the stock purchase contract, “Amit Tandon, Founder and MD, Institutional Investor Advisory Services (IISA) said Standard Business.

The production house has made a quarterly net profit in Rs. 1.83 crore in June 2021 up to 230.63 percent of Rs. 1.40 Crore in 2020. June its net turnover has risen to RS 47.51 crore in June 2021 up to 124.39 percent of Rs. 21,17 crore in June to 2020.