Eros International Media’s accounts to be inspected
As per media reports, the ministry of corporate affairs has said it was satisfied that the allegations of fund siphoning need to be investigated
The accounts of Eros International Media will be inspected as per orders from the ministry of corporate affairs, media networks have reported.
The ministry has said it was satisfied that the allegations of fund siphoning need to be investigated, Reuters has reported.
Late last month, Sebi had barred Eros International Media, its promoter Sunil Lulla and CEO Pradeep Kumar Dwivedi from accessing the securities market.
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.
