Livid Ajay Devgn downsizes Eros from his film Shivaay

Here's the latest update from the world of Bollywood. We bet you wouldn't want to miss this. Read on for details... The actor was pushed against the wall

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Livid Ajay Devgn downsizes Eros from his film Shivaay
Last week, you read reports that PEN India Ltd will co-produce Ajay Devgn's upcoming film Shivaay. But we bet you don't know why PEN inked the deal.

Ajay was fed up with his co-producer Eros International. There was no regular flow of cash to keep the shoot going smoothly, and not once but twice, the Singham actor had to fly back to Mumbai from outstation locales to settle discords.

After a few days of shoot, Ajay realised that if things continue in the same vein, he will not meet the Diwali deadline of his film's release date.

Cut 2, Devgn knocked PEN's head honcho Jayantilal Gada's door. Gada and Ajay go back a long way and Gada stepped in to save Devgn from crisis.

End result? Lullas of Eros who were a 50 per cent partner in the film with Devgn Films now have only a 25 per cent share. Yes, Devgn snatched half their share and transferred it in Gada's name. 

Final scoreboard reads: Ajay-50, Gada-25, Lullas-25.

Eros has been in the news for wrong reasons since the past three-four months over major fluctuations in its share prices. Last week, reportedly, a class action lawsuit has been filed against Eros International by the law form of Ryan & Maniskas, LLP, in the United States District Court for the District of New Jersey, on behalf of all persons or entities that purchased the common stock. The complaint brings forth claims for violations of the Securities Exchange Act of 1934. The complaint alleges that throughout the Class Period, Eros International made false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects.

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