Shares of PVR Inox, India's biggest film exhibitor, sharply crashed over 8% on Monday after ET reported that the company asked a senior executive to leave in April following an internal investigation into alleged kickbacks worth up to Rs 200 crore from developers involved in building cinema properties.
Pramod Arora, who was the chief executive officer for growth and investment at the company, along with a few others, was asked to leave with immediate effect in April after the alleged probe found irregularities, people familiar with the matter told The Economic Times. PVR Inox shares crashed to a more than one-month low of Rs 1,126.60 apiece on NSE on Monday morning.
