On Thursday, June 6, the company clarified that CARE's rating downgrade was on account of delay in servicing of bank loans for the month of April 2019 and May 2019, which would be cleared within the next seven working days.
"Baseless allegations have been made against the company in the past and subsequent frivolous lawsuits have been dismissed with prejudice by the US courts. Similar baseless allegations continue to be made by known short sellers without justification. We will continue to defend our interests rigorously at all times," Kishore Lulla, group chairman and CEO of Eros International said.
According to bulk deal data, on June 7, Rajesh V had purchased 5,43,159 shares representing 0.57 per cent of Eros International Media
at price of Rs 46.32 per cent on the NSE. The name of the sellers could not be ascertained immediately.
The counter has seen only sellers in past five trading days. Till 10:37 am, a combined 73,444 shares changed hands. There were further pending sell orders for 5.25 million shares representing 5.5 per cent stake of the company on the NSE and BSE.