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SEBI

Sebi on Friday refused to lift the securities market ban imposed on Eros International Media Ltd and four others in an alleged fund diversion case.
Further, an investigation by Sebi will be completed in six months in the matter,  according to the order.
Apart from Eros International, the ban from dealing in the securities market will continue on its Managing Director Sunil Arjan Lulla, Chief Executive Officer Pradeep Kumar Dwivedi and the two promoter entities -- Eros Worldwide FZ LLC and Eros Digital Private Ltd.
Sebi, in an interim order in June, had prohibited these five entities from the securities markets in a case pertaining to the possible diversion of funds based on prima facie findings, and now, it has confirmed the ban against them.
In its confirmatory order passed on Friday, Sebi said that "no cogent reasoning has been furnished by the noticees (the five entities) about the prima facie findings in the interim order, including the allegations of siphoning off funds to ...

Press Trust of India

Eros International Media

In an interim order in June, SEBI said it had found prima facie evidence that Eros International's accounts were "overstated and do not present a true and fair picture of its financial health"

News

Sebi refuses to stay securities market ban on Eros International Media

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