In what has come as a relief for Eros International Media - a class action lawsuit filed against Eros International in the US in 2015 has been dismissed.
The lawsuit had alleged that Eros has been overstating its theatrical revenues and challenged a number of movies produced by the company.
In an interview to CNBC-TV18, Jyoti Deshpande, Group MD & CEO of Eros International spoke at length about the lawsuit and her outlook going ahead.
Dismissal of the lawsuit has removed a big overhang on the company, said Deshpande.
Will be able to access capital markets again post legal win, she added.
She further said that the company did not settle, no money was paid and legal cost was covered by insurance.
Talking about business, she said co-production will continue to be important part of the business.
Will try and align shareholder interest between company and Plc, she mentioned.
On app front, she said that by the end of FY18 there will be 6-8 million subscribers for Eros Now.
No pending cases against the company, Deshpande mentioned.
Watch accompanying video for more details.
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