Zee Telefilms company secretary Vikas Gupta quits

MUMBAI: Zee Telefilms Ltd company secretary and ETC Music business head Vikas Gupta has resigned.

He will be ending his seven-year tenure at Zee Telefilms when he leaves to join a new company in January. "I will continue to be in Zee Telefilms till the end of this month," Gupta said.

He, however, did not disclose the company he was joining. "I will be the company secretary and head legal and corporate affairs in the new place," he added.

Besides being the company secretary of Zee Telefilms, Gupta took up various additional responsibilities. He was made ETC Music business head last year while continuing as finance director of ETC Networks since Zee Telefilms acquired the company in 2002.

A few months back, Gupta was also asked to supervise the financial functioning of Essel Group.

One of Gupta's important assignments was to reach a settlement with the promoters of Padmalaya companies, whom Zee had accused of misappropriation of shares. Zee had taken a 64 per cent stake in Padmalaya Enterprises Pvt Ltd (PEPL) which formed the holding company and held 50.3 per cent controlling stake in listed company Padmalaya Telefilms Ltd (PTL). 

Zee later accused Padmalaya founder-promoter GA Seshagiri Rao, along with his relatives, of pledging PEPL's shares in PTL to raise loans without the knowledge of the board. Zee exited from Padmalaya after being given land in Padmalaya Studios.

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