Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for Eros International Media Limited -- Intimation of NCLT Order against Colour ....
Awaiting price reaction for this filing.
Eros International Media announced that the NCLT Mumbai Bench has granted it interim protection in a petition filed against Colour Yellow Productions Pvt. Ltd. and its directors (Mr. Aanand L. Rai and Mrs. Yogita Rai), in which Eros holds a 50% equity stake. The petition, filed under Sections 241 and 242 of the Companies Act, 2013, alleges oppression and mismanagement including non-disclosure of financials, unauthorized transactions, and related-party deals without board approvals. Under the NCLT order dated June 24, 2025, the respondents have given undertakings that they will give 7 days' prior notice to Eros before any board or shareholder meetings and will make no payments to related parties during the pendency of the petition. The tribunal noted these undertakings are without prejudice to the respondents' challenge on the maintainability of the petition.
This is a positive interim development for Eros as it secures governance safeguards over its 50% investment in Colour Yellow, but the underlying dispute remains live and the respondents have contested the petition's maintainability, so the final outcome is still uncertain and could create ongoing overhang on the stock.