Kurien, Chokhani quit Zee Entertainment board a day before AGM

Two independent directors on the board of Zee Entertainment Enterprises — Ashok Kurien and Manish Chokhani — on Monday resigned from the board of the company ahead of the AGM on Tuesday.

This comes after proxy advisory firm Institutional Investors Advisory Services (IiAS) raised serious corporate governance concerns in the company by asking shareholders not to vote for re-appointing the duo on the company’s board.

IiAS had asked shareholders to vote against the proposal to re-appoint Kurien, saying that he was the founder of the Zee group and while the company had reclassified him as a non-promoter, no requisite regulatory filings or shareholder approval was sought for the same, and hence it classifies him as a promoter.