Balaji Telefilms intends to reduce the remunerations of Ekta Kapoor & mother Shobha Kapoor

Balaji Telefilms announced on November 15 that it intends to seek shareholder permission to cut the salary of Ekta Kapoor, Joint Managing Director, and Shobha Kapoor, Managing Director. The proposed remunerations for the mother-daughter duo, which included a commission not exceeding 2.5 percent with immediate effect from November 10, 2021, for a term of two years, were rejected at the company’s annual meeting on August 31, 2021.

According to the article, shareholders supported Shobha Kapoor and Ekta Kapoor being re-appointed as Managing Director and Joint Managing Director, respectively, for a term of five years till November 9, 2023, during the 24th AGM held on August 31, 2018. Shobha Kapoor’s pay plan obtained only 43.23 percent support and 56.76 percent opposition at the 27th AGM on August 31, 2021. Similarly, the proposal to boost Ekta Kapoor’s compensation earned 44.54 percent of the vote in favour and 55.45 percent in opposition.

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Under the revised remuneration which was discussed at the annual meeting in August 2021, the company 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 percent of the net profit”, which was there in the earlier rejected proposal,” according to Economic Times.

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