Home / Business and Economy / PVR INOX Exec Ousted Amid ₹200 Cr Kickback Probe

PVR INOX Exec Ousted Amid ₹200 Cr Kickback Probe

5 Sep

Summary

Senior executive departed in April due to an internal probe.
Allegations involve kickbacks totaling ₹200 crore from developers.
Company board has been discussing these serious allegations.

PVR INOX, India's largest film exhibitor, initiated an internal investigation that led to a senior executive's departure in April. The probe focuses on allegations of kickbacks from developers involved in constructing cinema properties. These alleged payments, reportedly made over several years, could reach up to ₹200 crore.

The executive in question, Pramod Arora, previously served as the chief growth and investment officer. His departure follows the company's discovery of these alleged malpractices. The internal investigation is now working to determine the full scope of the wrongdoing and whether other individuals were complicit.

These serious matters have been a subject of discussion in recent meetings of the PVR INOX board. The company has not yet responded to queries regarding the allegations. Arora has reportedly signed a declaration restricting him from joining rival chains or contacting PVR INOX vendors.

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