Subhash Chandra has resigned as the Chairman of Zee EntertainmentEnterprises Limited (ZEEL).
However, he will remain Non-Executive Director of the company.
"In light of the changes in shareholding, Subhash Chandra has expressed his intention to resign as Chairman of the Board with immediate effect," read a statement.
"The Board accepted his resignation and noted that this is in line with the requirements of regulation 17 (IB) of SEBI Listing Regulations, which inter alia mandates that the Chairperson of the Board shall not be related to the Managing Director or the Chief Executive Officer of the Company. He will remain as Non-Executive Director of the company," the statement added. (ANI)