PVR chief Bijli gets show-cause notice

SEBI has issued a show cause notice to PVR and its chairman and managing director Ajay Bijli for alleged violations committed by Mr. Bijli. It has been alleged that Mr. Bijli entered into a compensation agreement with Multiples Private Equity that guaranteed him a share in the profits of Multiples PE if the returns exceeded a pre-defined mark. The company is reviewing the show cause notice and is in the process of seeking legal advice to take appropriate action in the said matter.