Sebi has closed adjudication proceedings against Prime Focus and its directors, ruling that the company correctly accounted for business transfers to indirect subsidiaries. The regulator found no evidence of misleading financial statements, accounting irregularities, anti-fraud violations or improper profit recognition.
Market regulator Sebi has officially closed adjudication proceedings against Prime Focus and its directors, concluding a significant case. The ruling confirmed that Prime Focus accurately accounted for business transfers to its indirect subsidiaries, clearing previous concerns.…
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