SEBI order against Mediaone over Rs 99 crore fund diversion and fake revenue

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

+3.7%1-day move

₹14.85

prior close

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AI summary

SEBI issued an order against Mediaone Global Entertainment and six directors for alleged fund diversion of about Rs. 99.48 crore, round-tripping, book falsification, fictitious revenue in FY2022-23 and FY2023-24, and non-payment of declared dividend. Probe began after Eros International wrote off Rs. 63.61 crore in advances. Forensic audit by SKVM found sham transactions and misleading disclosures to investors.

Likely market impact

Negative for shareholders. Stock rose 7x post resumption on allegedly fake numbers. SEBI may impose penalties and debar directors from markets.