India's market regulator bars Eros Group entities, MD Lulla from securities market (updated)
22/06/2023 14:45
(Adds details from the order)
BENGALURU, June 22 (Reuters) - India's market regulator
said on Thursday it had barred Eros Group Managing Director
Sunil Arjan Lulla and three of the media company's entities from
the securities market, citing accounting irregularities at the
firm.
In an interim order, the Securities and Exchange Board of
India (SEBI) said it had found prima facie evidence that the
books of accounts of the company were "overstated and do not
present a true and fair picture of the financial health of the
Company."
The SEBI has barred Eros International Media Ltd
EROS.NS , Eros Worldwide and Eros Digital from the securities
market until further orders.
Pradeep Kumar Dwivedi, CEO of Eros International Media,
was also barred from the securities market. Both, Lulla and
Dwivedi have also been restricted from holding directorial
positions in listed companies, according to the SEBI order.
(Reporting by Rama Venkat in Bengaluru; Editing by Shilpi
Majumdar and Anil D'Silva)
((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;
+91 8095218099;))