- The company received anonymous allegations in early April 2026 without specific details
- Former CEO Pramod Arora resigned for personal reasons and was not asked to leave
- Shares ended 5.76% lower after the news but are up 13.27% year-to-date
PVR INOX has clarified that a preliminary assessment conducted following anonymous allegations of impropriety did not indicate any evidence of kickbacks, while stating that former CEO Pramod Arora was not asked to leave the company.
The clarification came after the multiplex operator received anonymous communications alleging impropriety by certain employees. In an exchange filing, the company said the communications were received by its two promoters in early April 2026.
According to PVR INOX, the communications did not explicitly name Arora but instead referred to certain acronyms or initials. The allegations also did not contain specific actionable details, including instances, dates or names of developers who were allegedly involved in providing kickbacks.
The communications were subsequently forwarded by the promoters to the company for consideration in accordance with its policy.
Despite the anonymous nature of the communications and the lack of verifiable details, PVR INOX said it engaged external third-party experts to conduct a preliminary assessment as a measure of good corporate governance. "The preliminary examination also did not indicate any evidence of kickbacks," the company said in its filing.
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PVR INOX added that it places the highest importance on strong corporate governance, ethical business practices and accountability across the organisation. The company said it has established policies, processes and internal controls to guide its operations and relationships with stakeholders.
PVR INOX also clarified the circumstances surrounding the departure of Pramod Arora, who resigned from the company on May 4, 2026, citing personal reasons. The company said it accepted Arora's resignation, subject to his acceptance of continuing obligations towards PVR INOX and the company reserving all its rights and remedies.
PVR INOX specifically clarified that Arora was not asked to leave the company.
Following his exit, the company informed the stock exchanges through an intimation dated May 25, 2026.
The clarification comes amid market attention around the allegations and Arora's departure, with the company seeking to distinguish the two developments and reiterate that its preliminary assessment did not find evidence supporting the kickback allegations.
PVR INOX Share Price Today
PVR INOX shares ended 5.76% lower at Rs 1,156.50 apiece on Monday. The stock has declined 4.61% over the past week and 0.35% over the past month. However, the shares remain up 13.27% year-to-date and have gained 0.50% over the past year.
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