Sebis fresh order in Eros Internationals fund diversion case has outlined how two specific transactions were the reason why Sebi had to take action against the company. The company indulged in round-tripping of funds, using multiple entities, and funded 18 entities which in turn paid back the amount to Eros. The media and entertainment firm, however, denies any wrongdoing.
Rejecting a prayer to modify an interim order issued against five, market regulator Securities and Exchange Board of India (SEBI) decided to continue restrictions upon Eros International Media Ltd, Eros Worldwide FZ LLC (now known as Eros Worldwide FZE), Eros Digital Pvt Ltd, Sunil Arjan Lulla, executive vice chairman and managing director (MD) of Eros International and Pradeep Dwivedi, the company s chief executive officer (CEO).
Sebi refuses to stay securities market ban on Eros International Media yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
Eros fund diversion case: SAT rejects Eros International s appeal against Sebi interim order: Best Media Info bestmediainfo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bestmediainfo.com Daily Mail and Mail on Sunday newspapers.