Indian film producing company Eros listed in London in July 2006 before transferring to New York in November 2013. Between October 2015 and June 2019, Eros was attacked by at least seven short-sellers which alleged fraud. The company managed to shake off these allegations until June 2019 when it was downgraded to default by an Indian credit rating agency. The next day, short-seller Hindenburg Research published a report which highlighted the default and made additional fraud allegations, prompting a collapse in Eros' share price. The company somehow managed to struggle on until August 2021 when it announced that it would be unable to produce its March FY21 results on time as it was conducting a review into inappropriate revenue recognition during FY20 and merger-related balance sheet adjustments. At the time of writing, the review had yet to be completed.

Last updated March 2022.

The information on this page has been compiled from publicly available sources. GMT Research Limited has not verified the information and does not warrant its accuracy. Any claims made or views expressed are not necessarily those of GMT Research Limited.