GECs
US research firm finds Eros International accounting practises inappropriate; law firm files class action litigation
BENGALURU: US research firm Alpha Exposure (AE) has found Eros International Plc’s accounting practises inappropriate, especially the way it amortises its films as compared to US film makers.
By stretching its amortisation period, Eros is significantly able to reduce its expenses and hence shows higher earnings alleges AE. Through its publication seekingalpha.com, the firm had published three reports – on 30 October, 2015 titled Unlike The Name, Investors Should Not Love EROS, on 13 November, 2015 titled Eros: Is The Game Finally Over? We Think So, and on 17 November, 2015 titled Eros: A Short Story.
Based on these reports, US law firm Lieff Cabraser Heimann & Bernstein, LLP announced today that Securities fraud class action litigation has been filed on behalf of investors in Eros International Plc by it. The law firm has asked investors who have purchased or otherwise acquired the securities of Eros between 12 November, 2013 and 13 November, 2015, inclusive (the “Class Period”), including pursuant and/or traceable to Eros’s initial public offering (“IPO”) on or about 12 November, 2013, they may move the court for appointment as lead plaintiff by no later than 12 January, 2016.
The firm’s Case Center (http://www.lieffcabraser.com/Case-Center/Eros.shtml) on its website informs investors: “You may retain Lieff Cabraser Heimann & Bernstein, LLP, or other attorneys, as your counsel in the action. Recognized by the National Law Journal as one of the nation’s top plaintiffs’ law firms, Lieff Cabraser is committed to safeguarding the rights of investors and upholding the integrity of the market. We have significant experience and a successful track record of representing institutional and individual investors in securities and financial fraud litigation.”
“Eros investors may choose to have Lieff Cabraser review their claim by completing the contact form below. You can also call Sharon M. Lee of Lieff Cabraser at 1-800-541-7358 to discuss the litigation.”
A summary of the 30 October, 2015 report on seekingalpha.com is listed below:
(1) Due to aggressive accounting practices, Eros’ reported earnings are significantly overstating the economic reality of its business model.
(2) Eros’ subsidiary financials reveal a lack of free cash flow and raise many questions about the company’s accounting.
(3) The company has enriched its controlling family at the expense of shareholders through a series of related-party transactions.
(4) Eros Now is poorly positioned to win the battle for streaming media in India and appears to have made meaningful misstatements to investors.
(5) Based on the company’s persistent negative free cash flow and growing debt and share count, we believe the stock is worthless.
The full report dated can be read at: http://seekingalpha.com/article/3621886-unlike-the-name-investors-should-not-love-eros
GECs
Asianet Television Awards 2026 celebrates women power in Malayalam TV
“She is the Colour” theme honours icons as ceremony airs on March 14 and 15 at 7 PM.
MUMBAI: If television lights up living rooms, this year Asianet decided to let women provide the colour. The Asianet Television Awards 2026 turned the spotlight firmly on women empowerment with the theme “She is the Colour”, celebrating the strength, resilience and achievements of women who continue to shape society and the Malayalam entertainment industry.
The ceremony honoured several distinguished personalities whose journeys have left a lasting cultural imprint. Among them was legendary playback singer Vimala Varma, widely recognised as the first Malayalam playback singer. The evening also paid tribute to Padma Shri awardees Devaki Amma and Vimala Menon for their exceptional contributions in their respective fields.
Leading women from the Malayalam film industry were also recognised during the event, including actor Shweta Menon, who currently serves as president of the Association of Malayalam Movie Artists, and National Award winning actor Surabhi Lakshmi.
The awards ceremony brought together a glittering lineup of actors and industry figures, including Jayasurya, Vijay Babu, Asha Sarath, Lena, Esther Anil, Anumol, Akhila Bhargavan, Sarayu Mohan, Prajod Kalabhavan, Gayathri Suresh, Sabumon Abdusamad, Swasika, Tini Tom, Sijoy Varghese, Kailash, Veena Nandakumar, Sabareesh Varma, Ansiba Hassan and Dinesh Prabhakar. Kishan Kumar, executive vice president Malayalam at JioStar, was also present at the event.
Beyond individual recognitions, the awards celebrated excellence across Malayalam television, acknowledging artists and technicians whose work continues to drive the industry forward.
The evening also offered plenty of spectacle, with elaborate dance performances, stunt acts and comedy skits performed by popular television and film personalities, turning the ceremony into a full fledged entertainment showcase.
Viewers will get to watch the celebrations when the Asianet Television Awards 2026 air on Asianet on March 14 and 15, Saturday and Sunday, from 7 pm onwards, bringing the star studded tribute to homes across Kerala and beyond.
