Trouble Brewing at Media Giant Eros Media International

Once a high-flying media empire built by the prominent Lulla family, Eros now faces intense scrutiny from regulators over alleged financial wrongdoing. According to sources, the SEBI has initiated an inquiry into suspected stock price manipulation and accounting discrepancies related to opaque transfers of millions of funds from Eros International to other family ventures.

Meanwhile, Eros International appears mismanaged and in disarray. Employees and vendors report delayed payments of up to five months, before being let go.

The company's once thriving ErosNow (OTT) has lost ground to competitors after being transferred to Xfinite Global FZ LLC, another floundering family company joking to operate in web3. Xfinite has delayed employee’s salary about 1-1.5 months every month for the past 5 months.

With regulators and stakeholders demanding answers, the turmoil seems to point to deeper rot in Eros management. As dark clouds gather over the company, the future looks uncertain for this once dominant but now embattled media conglomerate.