Preliminary probe found no evidence of kickbacks after Rs 200-crore allegation: PVR INOX
Mumbai, Sep 7
Multiplex operator PVR INOX Limited on Monday clarified that a preliminary assessment into allegations of impropriety involving certain employees found no evidence of kickbacks, following reports of an internal probe into alleged Rs 200-crore irregularities.
In a stock exchange filing, PVR INOX said its two promoters received anonymous communications in early April 2026 alleging impropriety by certain employees. The communications did not specifically name former senior executive Pramod Arora, but referred to certain acronyms and initials.
"In early April 2026, the two
promoters of the Company received anonymous communications containing allegations of impropriety by
certain employees. These anonymous communications did not explicitly name Pramod Arora but used
some acronyms/initials instead," it said. "The communications did not provide any specific actionable details, such as
instances, dates or names of developers, who are alleged to have provided kick-backs," the company added in its regulatory filing.
The company said the communications lacked specific and actionable information, including details of alleged incidents, dates or the names of developers who were purportedly involved in providing kickbacks.
The promoters subsequently forwarded the communications to the company for consideration under its established policies. Despite the anonymous nature of the allegations and the absence of verifiable details, PVR INOX said it engaged external third-party experts to conduct a preliminary assessment as part of its corporate governance practices.
The company has now clarified that the preliminary examination did not indicate any evidence of kickbacks.
The clarification also comes in the context of Arora's departure from the company. According to PVR INOX, Arora resigned on May 4, 2026, citing personal reasons. The company said it accepted his resignation subject to his continuing obligations towards PVR INOX and reserved all its rights and remedies.
PVR INOX further clarified that Arora was not asked to leave the company. His departure was subsequently communicated to the stock exchanges through an intimation dated May 25.
The multiplex operator reiterated that it has established policies, processes and internal controls governing its operations and relationships with stakeholders.
Meanwhile, shares of PVR INOX came under pressure on Monday. The stock closed at Rs 1,157.40 on the BSE, down Rs 69.70, or 5.68 per cent, amid investor reaction to the reports and the company's clarification.
— IANS
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