Aishwarya is a super mom: Abhishek Bachchan

New Delhi, Jun 9: Multiplex operator PVR on Monday said it has cut salary across various levels, laid off employees and deferred increments during the lockdown to mitigate adverse impact of COVID-19 on the business.

The company said at present it is not generating any revenue from exhibition business and related activities as cinemas across the country are shut following the directions from the regulatory authorities.

According to the company, closure of screens during the lockdown will have a significant negative impact on profitability and liquidity.

PVR has taken measures to reduce its personnel cost, including salary cuts across various levels in the organisation during the lockdown along with "reduction in headcount by way of layoffs/retrenchment" to mitigate the adverse impact of COVID-19 on the business.

Moreover, the board of the company, in its meeting held on Monday has also approved plan to raise Rs 300 crore through rights issue.

"Since Cinema Exhibition is the only business segment, company is currently not generating any revenue from admissions, food and beverage sales or other revenue and cash flow from operations," said PVR in an update.

Beginning from March 11, PVR started closing its screens in accordance with the order passed by various regulatory authorities and within a few days most of our cinemas across the country were shut down, it added.

The company will continue to incur committed cash outflows, including employee salary pay-outs, other overheads as well as payments for older working capital.

"This has and will have a significant negative impact on profitability and liquidity during lockdown and even thereafter till business comes to normalcy," it added.

Further, once the cinemas are re-opened, we may not be able to run our cinemas at normal capacity utilisation levels on account of social distancing measures that cinemas may be required to follow as well as health concerns that the patrons may have, the multiplex operator said.

"On account of this, our revenue and cash flow generation may be impeded even once we are allowed to restart operations," it added.

The company has also deferred decision on on increments to reduce its cost, it added.

PVR has also written to developers for waiving rental and CAM (Common Area Maintenance) charges for the lockdown period.

It is in discussion with developers for reducing rentals post re-opening and has invoked force majeure clause in its agreements with them.

Besides, the company has raised additional borrowings from existing bankers to shore up liquidity.

"As of March 31, 2020 the company had cash and bank balance of Rs 316 crore. As on June 7, 2020 cash and bank balance is Rs 227 crore (including undrawn bank lines)," it added.

Over reopening of theatres, PVR said that the government has come out with a phase-wise schedule.

In these guidelines cinema halls have been kept in the third phase of re-opening, where dates will be decided based on assessment of the situation.

"We are in continuous engagement with all regulatory authorities and hope to receive the necessary permissions for restarting opening in the near future," it added.

Currently PVR operates 845 screens in 176 properties in 71 cities.

Patna, Jun 27: As Sushant Singh Rajput’s family tries to come to terms with his loss, they have decided to honour his legacy and celebrate his passion for cinema, science and sports.

In an emotional statement shared on Saturday, the Bollywood actor’s family remembered him as a “free-spirited” person who worked hard to turn his dreams into reality.

“He was free-spirited, talkative and incredibly bright. He was curious about just everything. He dreamed without restraints, and chased those dreams with the heart of a lion. He smiled generously. He was the pride and inspiration of the family,” the statement read.

Rajput, 34, known for films like Kai Po Che!, MS Dhoni: The Untold Story and Chhichhore, was found dead in his Bandra apartment on June 14, sending shockwaves in the film industry and elsewhere.

The family said that the actor’s untimely demise has created an irreparable void in their lives.

“We can’t bring ourselves to accept that we wouldn’t get to hear his easy laughs anymore. That we wouldn’t see his sparkling eyes again. That we wouldn’t hear his endless rants about science again. His loss has created a permanent, glaring void in the family that will never be filled.”

Thanking his admirers for being a constant support as they try and recover from the loss, the family added that Rajput, “truly loved and cherished every single one of his fans.”

The actor, who made the storybook transition from Patna boy to television and then the starry lights of the Hindi film industry, was the youngest of five siblings and is survived by his father and four sisters. His mother had passed away in 2002 when he was a young teen.

To honour his memory and legacy, the family has decided to set up Sushant Singh Rajput Foundation (SSRF) that will support young talents in cinema, science and sports.

His childhood home in Rajiv Nagar, Patna, will be turned into a memorial, where all his personal memorabilia and belongings, that include thousands of books, his Meade 14’’ LX-600 telescope, flight-simulator, will be on display for his fans and admirers.

The actor’s family, who used to fondly call him Gulshan, will also maintain his social media accounts as legacy accounts to keep his memories alive.

Rajput started his acting career with television after dropping out from Delhi Technological University in the early 2000s. He was one of the few talents to have made a successful transition to movies.

The actor made his Bollywood debut in 2013 with Kai Po Che!. In past seven years, he had featured in a number of hits including blockbusters Neeraj Pandey’s MS Dhoni: The Untold Story and Chhichhore by Nitesh Tiwari.

Tiwari’s 2019 hit was Rajput’s last theatrical release.

On Thursday, it was announced that Dil Bechara, which is the actor’s last movie he shot for, will premiere on Disney + Hotstar on July 24.

Washington, April 3: American actor Kristen discussed her experience being isolated with husband and their two kiddos.

According to Fox News, the 39-year-old actor discussed how she and Shepard are finding quarantine to be a little tough in a video chat to Entertainment Tonight.

Bell admitted: "We've gotten on each other's last nerve these last couple days. We're doing much better now because were laughing about it. But when we were not laughing about it for the first couple of days, that's the hard spot."

The 'Bad Mom' actor then shared her thoughts on why quarantining with loved ones can be so tough. She explained that she loves spending time with her husband and he loves spending time with her.

But what she thinks is different about this quarantine time is you have so much more time to think about the other persona and their actions and sort of replay what they said or attach a meaning to something that they did.
Bell added: "Nobody really needs time for that. That's useless."

The 'Frozen' actor also discussed having to make adjustments in regards to her kids, 7-year-old Lincoln, and 5-year-old Delta, and the schedule she tried to keep once the quarantine began.

She said that the biggest lesson she learnt, in the beginning, was that she wrote out the colour coded schedule, and noted about when will be their academic and academic time.

Kristen explained that by day five of schedule, she was making everybody miserable. About a week ago, she woke her kids up and encouraged her daughters to rip up the schedule, explaining that the kids "felt so good."

"I said the learning lesson here is that if you make a plan and it's not working, you pivot," said Bell.