Long-suffering investors in Bollywood bond may not receive £3.75m owed

By JOANNE HART

Updated: 21:50 GMT, 8 March 2025

Thousands of UK savers are braced for battle with one of India’s best known Bollywood film groups, after being told that £3.75 million they are owed may not be paid when it falls due.

Eros Media World had agreed to stump up the money tomorrow to long-suffering investors who bought a bond issued by the Indian group on the London Stock Exchange in 2014. 

The cash is a fraction of the £50 million that bond holders were owed, but Eros, under the wealthy Lulla family, has wriggled out of paying the money back for years.

Last summer, investors agreed to a new plan, surrendering their bonds to the Lullas in exchange for up to £7.50 per £100 owed (totalling £3.75 million) and a pledge of up to £57.50 per £100 within two years.

Red alert: Bollywood star Deepika Padukone in the film Ram-Leela, one of Eros’s releases

The deadline for the first sum falls tomorrow, but Eros has now told bondholders it would pay on time ‘or as soon as it has funds available to do so’. The warning has outraged investors, especially as the Lullas said just last week that they had repaid £43 million of debt in India.

Eros said: ‘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.’

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Long-suffering investors in Bollywood bond may not receive £3.75m owed

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