As Eros Plummets Limit Down, Founding Entity Has 97% Of US Stake Pledged As Collateral

Posted on June 11, 2019 3:36 pm
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URL https://www.zerohedge.com/news/2019-06-11/eros-limit-down-bombay-founding-entity-has-97-us-stake-pledged-collateral 

In case you have missed the evolving story of Indian filmmaker Eros International Plc (Listed in the U.S. under “EROS”) over the last week, the company’s US listed equity and its Bombay Stock Exchange listed main subsidiary have both been decimated as a result of ratings agency CARE recently downgrading the company to default, as a result of “delays or likely defaults in serving debt availed from banks”. 

“As per the management, the delays/default in debt servicing is on account of slowdown in collection from debtors leading to cash flow issues in the company,” CARE said in a statement days

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