Prime Focus shares hit 5% upper circuit as Sebi halts proceedings in misleading financials case

Prime Focus shares were locked in 5% upper circuit after Sebi closed its investigation. The market regulator found the company used correct accounting for business transfers. Allegations of misleading financial statements and irregularities were unsubstantiated. Proceedings against the company and its directors have been dismissed. This decision impacts the company’s financial reporting and market standing.

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