Chennai based entertainment firm Pyramid Saimira Theatre Ltd (PSTL) which was in the news recently for forged Sebi letter scam has got breather from Madras high court in I-T related case as court directed I-T department to withdraw attachment order on company's bank accounts.
It may be recalled, in December last year PSTL complained it was the target of serious fraud as a forged Securities and Exchange Board of India (Sebi) letter was sent out to it and media houses, which asked PSTL promoters to make open offer at Rs 250 per share to acquire 20 per cent stake which was around four times company's scrip's ruling market price. .
The communique issued by the company to BSE says, order passed by Justice V Ramasubramanian asks deputy commissioner of I-T Chennai to complete the assessment of tax dues of the company within six months period. The order allows company to operate its bank accounts.
