Everonn Education falls 20%, hits lower circuit on BSE

NEW DELHI: Shares of Everonn Education Ltd plunged 20 per cent for second time in a row on Monday. Everonn's non-executive chairman, Jamshed J Irani, resigned following the arrest of managing director P Kishore in a bribery case, company stated in a regulatory filing.

The company appointmented its whole-time Director Susha John as CEO on Friday after P Kishore was arrested last week.

Shares in the company triggered second lower circuit on BSE today falling by another 20% to Rs 281.20. Shares in the company have slipped over 35% since Friday, 2nd September.

The stock received a similar drubbing on the NSE where it hit the lower circuit limit after plunging 20 per cent to Rs 281.20 a share.

“Kishore was arrested for allegedly giving Rs 50 lakh as bribe to Additional Income Tax Commissioner Andasu Ravindar to conceal Rs 60 crore of taxable income out of Rs 116 crore detected by CBI officials recently”, say media reports .