THOUSANDS of UK investors are uncertain about receiving a £3.75 million payment from Eros Media World, a Bollywood film group, as the company has indicated it may not be able to pay on time.
Eros had agreed to make the payment on 10 March to investors who bought bonds issued by the company on the London Stock Exchange in 2014.
The sum is part of a larger £50m owed to bondholders, with repayments delayed for years under the Lulla family's leadership, according to This is Money.
In 2023, investors agreed to a restructuring plan, exchanging their bonds for a partial repayment of up to £7.50 per £100 owed, totalling £3.75m, and a further pledge of up to £57.50 per £100 within two years.
Eros has now told bondholders that it intends to meet the 10 March deadline "or as soon as it has funds available to do so." The update has frustrated investors, particularly as the company recently reported repaying £43m of debt in India, This is Money reported.
Eros stated: "We're actively working to meet this obligation on Monday as planned. Should there be any delay, which we are striving to prevent, we would engage directly with bondholders and the trustee."
The Bank of England is pictured on May 9, 2024 in London. (Photo: Getty Images)
