Eros International shares tumble 20 pc

Shares of Eros International Media Ltd fell sharply by nearly 20 per cent on Friday after Sebi barred the media and entertainment firm, its promoters, MD Sunil Arjan Lulla and CEO Pradeep Kumar Dwivedi from the securities markets in a case pertaining to the possible diversion of funds.

The stock tumbled 19.96 per cent to Rs 21.08 on the BSE.

At the NSE, shares of the company plunged 19.92 per cent to Rs 21.10 apiece after a weak opening.

In addition, Lulla and Dwivedi have been prohibited from holding the position of a director or key managerial personnel in any listed company, including Eros International or its subsidiaries until further orders, according to Sebi’s interim order on Thursday.