Eros_International

Eros International

Eros International

Indian motion picture production and distribution company

This article is about the Indian media company. For the defunct British film company, see Eros Films. For the defunct media company merged with STX Entertainment to form ErosSTX and then separated to form Eros Media World, see Eros International plc. For other uses, see Eros Media World.

Eros International Media Ltd (also known as Eros India) is an Indian motion picture production and distribution company, based and originated in Mumbai, India. Founded by Arjan Lulla in 1977, it is one of the leading production and distribution companies in India.[2] Currently, his sons Kishore Lulla[3] and Sunil Lulla manage the company. It is a subsidiary of Eros Media World, formed in 2020, which was formerly known as Eros International Plc and subsequently ErosSTX Global.[4][5]

Quick Facts Formerly, Company type ...

Eros co-produces, acquires and distributes Indian films in multiple formats worldwide, including theatrical, television syndication and digital platforms.[6] Eros has over 12,000 films in its library which include Hindi, Tamil, Telugu and other regional language films.

In 2023, the Securities and Exchange Board(SEBI) discovered that Eros International's financial accounts were inaccurately inflated and did not accurately reflect the company's financial condition.[7] It was revealed that the company had been providing funds and potentially diverting money to entities associated with its promoters.[8] This regulatory action by SEBI came as a result of an investigation initiated following the receipt of a preliminary examination report (PER) from the National Stock Exchange (NSE) regarding Eros International's operations.[9][10]

SEBI also banned Sunil Lulla from holding the position of a director or key managerial personnel in any listed company in India due to a potential diversion of funds.[9] Since June 22, 2023, Eros International and Sunil Lulla have been banned from the Indian securities markets.[11] Eros International and Sunil Lulla appealed the decision but the Indian Securities Appellate Tribunal(SAT) rejected the appeal in August 2023.[9]

History

In 1977, Arjan Lulla started the company. In 1981, he founded the company Jupiter Enterprise with Mr. Kishore Lulla and Ms. Bhagibhai Lulla. On 19 August 1994 Rishima International Pvt Ltd was founded. It was a private limited company. Through its subsidiary "Eros International Films", the company produced and distributed films. On 1 April 1999, the company acquired the entire Jupiter Enterprise. Their first jointly produced film was Waqt (2005). On 25 July 2000, the name was changed to Eros Multimedia Private Limited. The name was again changed to Eros International Pvt Ltd on 20 November 2008. On 16 September 2009, the company was converted into a public limited company and on 18 November, the name was changed to the present name Eros International Media Ltd.[1][12] In 2010, Eros International Media Limited was listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in India.[13] The name Eros was chosen after the Greek god of love.[14]

Subsidiaries

Current

  • Colour Yellow Productions (50% share)
  • Copsale
  • Digicine
  • Eros Animation
  • Eros International Films
  • Eros International Distribution (99.8% share)
  • Eros Music Publishing
  • Eyeqube Studios (99.9% share)
  • Techzone 56060

Former

Joint ventures

Partnerships

In 2008, Eros International made a deal with Universal Music Group to make a joint-venture to promote pop music to India. The agreement was announced by Kishore Lulla and Max Hole, President of Universal Music Asia Pacific Region and Executive Vice President, Universal Music Group International (UMGI) on 10 December though the joint venture was officiated with a contractual signing on 18 November. Rajat Kakar, Managing Director of Universal Music India was appointed as the chairperson and Sunil Lulla and Jyoti Deshpande, former COO of Eros International Group, are on the board of directors.[15] That same year, the company formed a joint venture with Lionsgate. The two companies would also co-produce films with budgets ranging from $10 to 20 million. Eros and Lionsgate also received access to each other's library, with Eros planning to air Lionsgate's TV shows such as Weeds and Mad Men and Lionsgate distributing some of Eros' Hindi films in North America such as Om Shanti Om, Gandhi, My Father and Eklavya: The Royal Guard.[16]

Filmography

Films produced and distributed by Eros International

Main article: List of films released by Eros International

Film music and soundtrack produced by Eros Music

Main article: Eros Music

Awards

More information Year of award, Film ...

See also

References

  1. [1]
    "Eros International Media Ltd" – via Business Standard.
  2. [2]
    "Asia's 200 Best Under A Billion List". Forbes. 17 July 2017. Retrieved 1 July 2018.
  3. [3]
    "Kishore Lulla Brings Light to Bollywood". Forbes. May 2014. Retrieved 1 July 2018.
  4. [4]
    "Eros International Plc Announces Corporate Name Change to Eros STX Global Corporation". www.businesswire.com. 11 September 2020. Retrieved 5 September 2023.
  5. [5]
    "Eros Announces Corporate Name Change to Eros Media World PLC". www.businesswire.com. 25 May 2022. Retrieved 5 September 2023.
  6. [6]
    "Company History - Eros International Media Ltd". The Economic Times. Times Group. Retrieved 1 July 2018.
  7. [7]
    "Eros International shares plunge 20% as Sebi bars group entities, MD". India Today. Retrieved 5 September 2023.
  8. [8]
    Ohri, Nikunj; Singh, Sarita Chaganti (24 July 2023). "Indian ministry orders probe into Eros International's accounts". Reuters. Retrieved 5 September 2023.
  9. [9]
    "SAT rejects appeals against Sebi's interim order in Eros fund diversion case". The Economic Times. 22 August 2023. ISSN 0013-0389. Retrieved 5 September 2023.
  10. [10]
    Gawande, Priyanka (22 August 2023). "SAT denies Eros plea against Sebi order". mint. Retrieved 5 September 2023.
  11. [11]
    Bureau, BL Mumbai (22 June 2023). "SEBI bars Eros". BusinessLine. Retrieved 5 September 2023.
  12. [12]
    "Eros International Media > Company History > Media & Entertainment > Company History of Eros International Media - BSE: 533261, NSE: EROSMEDIA". www.moneycontrol.com.
  13. [13]
    "Bollywood Thrills - Eros International - NYSE". www.nyse.com. Archived from the original on 27 March 2019. Retrieved 27 April 2015.
  14. [14]
    Willman, John (7 August 2007). "Rich rewards of a dual identity". Financial Times. Archived from the original on 30 April 2020. Retrieved 30 April 2020.
  15. [15]
    "Universal Music and Eros International announce joint-venture to globally promote Indian pop talent". UMG. 10 December 2008. Archived from the original on 27 June 2018. Retrieved 1 July 2018.
  16. [16]
    Datta, Sudipta (20 May 2008). "Eros ties up with Lionsgate". The Financial Express. Retrieved 22 July 2022.
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