Chennai based entertainment firm Pyramid Saimira Theatre Ltd (PSTL) which was in the news recently for forged Sebi letter scam has got breather from Madras high court in I-T related case as court directed I-T department to withdraw attachment order on company's bank accounts.
It may be recalled, in December last year PSTL complained it was the target of serious fraud as a forged Securities and Exchange Board of India (Sebi) letter was sent out to it and media houses, which asked PSTL promoters to make open offer at Rs 250 per share to acquire 20 per cent stake which was around four times company's scrip's ruling market price. .
The communique issued by the company to BSE says, order passed by Justice V Ramasubramanian asks deputy commissioner of I-T Chennai to complete the assessment of tax dues of the company within six months period. The order allows company to operate its bank accounts.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app