Eros has secured interim protection from the National Company Law Tribunal (NCLT), Bombay bench in company petition CP/121(MB)2025, filed under sections 241 and 242 of the Companies Act, 2013, against Aanand L. Rai’s Colour Yellow Productions Pvt. Ltd.
Eros, which holds a 50% stake in Colour Yellow, has initiated this petition, citing alleged acts of oppression and mismanagement, including concerns over non-disclosure of financials, unauthorised transactions, and related-party transactions without requisite board approvals.
Taking these allegations into account, the NCLT, vide its order dated June 24, 2025, has issued the following directions after taking on record undertakings by the respondents:
(i) Seven days’ prior notice must be given to Eros before convening any board or shareholder meetings of Colour Yellow Productions Pvt. Ltd.
(ii) No payments shall be made to related parties of the respondents during the pendency of the petition.
It is alleged by Eros that Aanand L. Rai has made payments of Rs. 80 crore to related parties without Eros’ approval.