Eros Media's director resignes; stock down since June 4

NEW DELHI: Eros International Media said on Monday that its non-executive and non-independent director Jyoti Deshpande resigned from the company following other commitments.

"Jyoti Deshpande, non-executive, non-independent director of the company, has tendered her resignation from the board and its committees with effect from June 28, 2019, for other commitments," Eros International said in a BSE filing.

Shares of the company were locked in the lower price band after falling 5 per cent to Rs 17.20.


The stock has been falling since 4 June 2019. On 5 June, 2019, rating firm CARE downgraded its creditworthiness to “default” levels, citing delays in debt servicing and cash flow issues.

So far, it has lost 74 per cent of its market capitalisation.