The move is part of a family arrangement between the four brothers, said the company.
“further to the family arrangment agreed to between the promoter group, communication has been received.. for declassifying Jawahar Lal Goel, Laxmi Narain Goel and Ashok Kumar Goel along with their respective family members and persons acting in concert with them, as “Promoters” of the Company,” said Citi Cable.
No other details of the family agreement between the Goel brothers were available.
Subhash Chandra is known for starting the Zee Group, one of India’s top three media houses and the biggest home grown media conglomerate in the country.
Siti Cable is one of the oldest companies in the group, and provides cable and broadband services across the country.
In addition, the group also owns Dish TV, India’s oldest DTH network, as well as several TV channels including Zee.