Eros International is an Indian film and entertainment group. They produce and distribute a large collection of Bollywood movies and songs, that they run on their own streaming platform. They have recently been suspected of accounting irregularities. Their chief executive Kishore Lulla dismissed this by saying that they have taken steps to resolve the delays in loan payments.
Their shares sunk by more than 30% despite the companies assurance to its investors. This took place after an Indian agency rated Eros’s Indian subsidiary as “default” levels due to these delays.
Do you think this company will come back on track?