Market regulator Sebi has issued a show cause notice to multiplex operator PVR's Chairman and Managing Director Ajay Bijli over alleged violation of listing norms.
In a filing to BSE, PVR said that the company and its "Chairman and Managing Director Ajay Bijli have received a show cause notice dated November 22, 2016 from the Securities and Exchange Board of India" in relation to alleged violations of listing norms.
"The company is reviewing the show cause notice and is in the process of seeking legal advice to take appropriate action in the said matter," PVR said.
The Securities and Exchange Board of India had issued notice on November 22, 2016 over "alleged violations committed by Ajay Bijli of Clause 49D of the erstwhile Listing Agreement and corresponding Regulation 17(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("LODR").
".. Alleged violations committed by the company of Clause 36 of the erstwhile Listing Agreement and corresponding Regulation 30 of LODR."
Shares of PVR today settled at Rs 1,112.10 on BSE, up 2.07 per cent from previous close.
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