The board of directors of Mediaone Global Entertainment approved the standalone audited financial results for the quarter and financial year ended March 31, 2026. The approval came during a board meeting held on May 30, 2026.

The company disclosed the outcome of the meeting on September 5, 2026. The filing confirms that the financial statements have been audited in accordance with Indian Accounting Standards.

Board Meeting Details

The board meeting commenced at 4:30 pm and concluded at 5:00 pm on Saturday, May 30, 2026. Jayabalan Jayakumar, Additional Director, signed the disclosure letter addressed to the Compliance Department of BSE Limited.

The directors considered and approved the following matters:

• Standalone Audited Financial Results along with Auditor's Report for the quarter and financial year ended March 31, 2026
• Statement of Assets and Liabilities (Balance Sheet) as on March 31, 2026
• Cash Flow Statement as on March 31, 2026

Auditor's Report

Vivekanandan Associates, Chartered Accountants, issued the independent auditor's report on the standalone financial results. The auditors stated that the results give a true and fair view of the net profit and total comprehensive income for the year ended March 31, 2026.

For the quarter ended March 31, 2026, the auditors confirmed that nothing came to their attention to suggest material misstatement or non-compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company noted that copies of the audited financial results and auditor's report have been released in newspapers as required by listing regulations.

Securities and Exchange Board of India (SEBI) has restrained Mediaone Global Entertainment Ltd and its directors from accessing the securities market for diverting ₹99.48 crore and manipulating financial statements. The regulator found that the company engaged in round-tripping of funds and recorded fictitious revenue over multiple financial years, misleading investors and distorting its financial position.

Investigation and Findings

SEBI’s investigation revealed that Mediaone Global Entertainment received ₹236.06 crore from Eros International Media Limited for film co-production. Out of this, ₹99.48 crore was diverted back to Eros either directly or through intermediary entities such as Metronet Multimedia Private Limited on the same day. Despite the diversion, the company continued to reflect an outstanding liability of approximately ₹59.96 crore in its books for several years.

The regulator also found that the company manipulated its financial statements during FY2013-14 to FY2015-16 and again during FY2022-23 to FY2024-25. The investigation identified that ₹143.05 crore of revenue recorded during FY2013-14 to FY2015-16 was fictitious, representing 48.26% of the total revenue for that period. Similarly, during FY2022-23 to FY2024-25, 73.01% of the total revenue of ₹65.29 crore was found to be manipulated.

Fictitious Transactions

The forensic audit and examination of bank statements revealed that the company recorded revenue through circular routing of funds and journal entries without underlying commercial substance. Transactions with entities such as Ritestone Solutions, Metro Films, Shan Global, and Metronet were found to be accommodation entries lacking genuine transfer of film rights or inventory movement.

Dividend Defaults and Non-Cooperation

The company failed to pay dividends declared for FY2010-11 and FY2011-12, amounting to ₹2.31 crore. Instead of transferring the unpaid amount to the Investor Education and Protection Fund (IEPF), the company reversed the liability and recognized it as income in FY2021-22, thereby inflating its profitability. SEBI noted that this act deprived shareholders of their lawful entitlement and violated statutory provisions.

Furthermore, the company and its directors, including Managing Director Mr. Suryaraj Kumar and CFO Mr. M Srinivas Kumar, failed to cooperate with the investigation. The regulator observed delays in providing information, false submissions regarding the appointment of auditors, and non-compliance with summons issued to directors and audit committee members.

Regulatory Directions and Penalties

Consequently, SEBI has barred Mediaone Global Entertainment Ltd, Managing Director Suryaraj Kumar, and former director J Murali Manohar from the securities market for three years. Whole Time Director K Sai Prasad and CFO M Srinivas Kumar have been barred for two years. The regulator has also prohibited them from acting as directors or key managerial personnel in listed companies during the debarment period.

SEBI directed the company to recover the diverted amount of ₹99.48 crore along with 12% annual interest and restore it to the books within three months. Additionally, the company was ordered to transfer ₹6.17 crore, comprising unpaid dividends and accrued interest, to the IEPF within one month.

Penalties Imposed