Leading multiplex operator PVR on Thursday filed a complaint with SEBI against film maker Ronnie Screwvala for “propagating false information to the detriment of the investors and the securities market”.

This comes after Screwvala reportedly filed a complaint with the Competition Commission of India (CCI) against the four leading multiplex operators — PVR, Inox Leisure, Carnival Cinemas and Cinepolis India, for charging discriminatory virtual print fee (VPF) from movie makers.

In its complaint to SEBI, PVR termed Screwvala’s statements as “slanderous and malicious allegations” with respect “to the matter that he has allegedly filed before the Competition Commission of India”.

“Till date there is no official communication by the CCI addressed to us about either the existence of any complaint or the exact nature of the allegations,” PVR said, adding that it only became aware about this development through social media and media reports.

The company subsequently wrote to the stock exchanges refuting all allegations on March 25.

“We request SEBI to enquire into the above matter and take appropriate action under Section 11 and 12A of the SEBI Act 1992, read with Regulation 4 of the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003,” it said. It also urged SEBI to issue appropriate directions to Screwvala to cease and desist from providing misleading and false information on the business of PVR, “which could further result in stock price volatility and adversely impacting shareholders of the company”.

Virtual print fee is a subsidy paid by film producers or distributors to exhibitors towards the purchase of digital cinema projection equipment on the release of their movies.

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