Markets regulator Sebi on Tuesday imposed penalties totalling Rs 2 crore on 17 entities for non-compliance with its investigation and failure to provide complete and timely information in the matter of Eros International Media Ltd.
The regulator levied a fine of Rs 12 lakh each on the 17 entities and the amount needs to be paid within 45 days, according to Sebi’s order.
The matter revolves around alleged financial irregularities and mismanagement concerning agreements between Eros International Media Ltd. (EIML) and Spicy Entertainment & Media Ltd. (SEML), along with other related entities.
The regulator sought detailed information regarding shareholders and directors of SEML since its incorporation; agreements and transactions between EIML and SEML, including ledgers, bank statements and tax filings, details of co-produced movies and reasons for incomplete or terminated projects and information on payments and refunds between the two companies.
In its order, Sebi noted repeated ..
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