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COO Arrest : Sun TV Stocks Tumble

  •   Mon, Jul 04 2011 05:14:00 PM

Daijiworld Media Network

Mumbai, Jul 4: Following the news of the arrest of Maran family's Sun TV Network chief operating officer H Saxena, the stocks of the company tumbled at Bombay Stock Exchange.

During the day, the stock was trading well and reached a high figure of Rs 360, but collapsed to Rs 336 following the news of the arrest.

It was earlier reported that Chennai police arrested Saxena on the charges of alleged fraud in the purchase of distribution rights to a Tamil movie. The complaint against him was filed by T S Selvaraj, owner of Kandan Films in Salem, who had reportedly signed a deal with Saxena worth Rs 1.25 crore.

Saxena was arrested at Chennai airport on his return from his Hyderabad.
  

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Title: COO Arrest : Sun TV Stocks Tumble



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