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Informist, Monday, Sept. 7, 2026

 

--PVR INOX clarifies inquiry didn't indicate Pramod Arora received kickbacks 

--PVR INOX says co didn't ask Pramod Arora to leave 

 

NEW DELHI – PVR Inox Ltd. Monday clarified on news reports alleging that the company asked its former Chief Executive Officer Pramod Arora to leave in April following an internal probe into alleged kickbacks from developers building its cinema properties. The preliminary examination did not indicate any evidence of kickbacks, the company said in an exchange filing.

 

In early April, two promoters of the company received anonymous communications containing allegations of impropriety by certain employees, as per the exchange filing. However, these anonymous communications did not explicitly name Arora but instead used some acronyms or initials, the company 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," it added. The company had also engaged external third-party experts to conduct a preliminary assessment, which ultimately yielded no proof of kickbacks, according to the exchange filing. "Despite the communications being anonymous and bereft of verifiable details, as a measure of good corporate governance, the Company engaged external third-party experts to conduct a preliminary assessment," it said. 

 

Arora resigned voluntarily on May 4 citing personal reasons, the company said, adding that he was not asked to leave. "The Company accepted Mr. Arora's resignation, subject to his acceptance of continuing obligations towards the Company and the Company reserving all its rights and remedies." 

 

For the June quarter, PVR Inox had reported consolidated net profit of INR 565 million on revenues of INR 16.22 billion. Monday, its shares ended at INR 1,156.50 apiece on the National Stock Exchange, down nearly 6% from Friday.  End

 

Reported by Devanshu Singla

Edited by Shubhayan Bhattacharya

 

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