PVR INOX Limited has issued a clarification addressing news reports concerning an internal probe into alleged ₹200-crore kickbacks. The company stated that anonymous communications alleging impropriety by employees were received in April 2026. While these communications lacked specific details, PVR INOX engaged third-party experts for an assessment. The company also confirmed that Mr. Pramod Arora resigned on May 4, 2026, for personal reasons, and the preliminary examination did not reveal evidence of kickbacks.
Company Responds to Allegations
PVR INOX Limited has released a statement to clarify recent news circulating on the website www.moneycontrol.com, titled “PVR Inox shares fall 8% amid internal probe into alleged Rs 200-crore kickbacks”. The company acknowledges receiving anonymous communications in early April 2026, which contained allegations of impropriety by certain employees. These communications, however, did not name specific individuals or provide actionable details regarding alleged kickbacks.
Internal Assessment and Executive Departure
In line with good corporate governance practices, PVR INOX promptly forwarded these communications to the company for review and initiated a preliminary assessment by engaging external third-party experts. It was also confirmed that Mr. Pramod Arora resigned from his position on May 4, 2026, citing personal reasons. The company accepted his resignation, and the stock exchanges were duly informed on May 25, 2026. PVR INOX clarified that Mr. Arora was not asked to leave, and the preliminary examination has not indicated any evidence of kickbacks.
Commitment to Governance
PVR INOX Limited emphasized its strong commitment to corporate governance, ethical business practices, and accountability. The company highlighted its established policies, processes, and internal controls designed to guide its operations and stakeholder relationships. The company stated its dedication to conducting business responsibly and transparently, adhering to applicable laws and its governance standards.
Source: BSE
