Eros International Media, promoter Lulla & CEO Dwivedi barred from securities market
Sebi has said that the action has been taken due to alleged misrepresentation of financial statements
Media networks have reported that Sebi has barred Eros International Media, its promoter Sunil Lulla and CEO Pradeep Kumar Dwivedi from accessing the securities market.
The action has been taken due to alleged misrepresentation of financial statements.
As per reports, Sebi has found that Eros had overstated its books and transferred funds in the name of content advances, and then recognising them as revenue by routing them through other entities.
The markets regulator has given the company, Lulla and Dwivedi 21 days to respond the order.
