Indian film group Eros takes action to resolve loan payment delays
Film and entertainment group plans to buy back up to $20m of New York-listed shares as short-seller puts further pressure on company
10 June 2019 - 16:51
Mumbai — Indian film and entertainment group Eros International has taken steps to resolve delays in loan payments, CEO Kishore Lulla said, as he dismissed a short seller’s claims of accounting irregularities at the group.
The company’s New York-listed shares plunged more than 55% last week, and those of its Indian subsidiary Eros International Media fell more than 30%, after an Indian rating agency categorised debt of Eros’s Indian subsidiary at “default” levels due to delays in loan payments...
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