Mr Chandra had stepped down as chairman of Zee Entertainment Enterprises last November.

Zee Entertainment on Tuesday appointed founder Subhash Chandra as chairman emeritus on Tuesday after he quit as non-executive director. His appointment will take effect from August 19, the company said in a regulatory filing after market hours on Tuesday. As chairman emeritus, Mr Chandra will continue to guide the company’s board and its senior management, Zee Entertainment said.

Mr Chandra “expressed a great sense of satisfaction, having witnessed a company, which he founded 27 years ago, emerge into a global media and entertainment powerhouse”, it said.

Zee said Mr Chandra “expressed his passion as an entrepreneur, to consistently work towards creating a better tomorrow and mentioned about his undivided attention needed for the same”.

Mr Chandra had stepped down as chairman of the Zee Entertainment Enterprises board in November last year.

Meanwhile, Zee Entertainment elevated R Gopalan as the chairman of the company. Mr Gopalan was an additional director (independent) at the company since November 2019.