Shilpa Shetty joins 'gold rush'; launches jewellery firm

April 3, 2014

Mumbai, Apr 3: Bollywood actor Shilpa Shetty today launched her own gold bullion and jewellery company, which will have outlets in seven cities.

Shilpa_ShettySatyug Gold has entered into long-term contracts with gold mines all over the world and also owns two refineries in India, Shetty, who is Chairperson of the company, said.

Satyug Gold is opening seven stores in cities like Mumbai, Delhi, Jaipur, Ahmedabad, Pune, Chandigarh and Ludhiana. These outlets will feature regular collections of jewellery designed by the actress.

"We have entered into long-term contracts with gold mines from all over the world and own two licensed refineries in India. Some of the margins we make in our gold business will be passed on to our customers in the form of discounts.

"This is possible because we are a complete mine-to- refinery-to-customer set up," Shetty told reporters here.

Satyug owns 42 per cent stake in AuPtAg Refinery and 50 per cent in Royal Refinery, both located in Navi Mumbai. They have refining capacity of 18 tonne and 150 tonne per annum, respectively, she said.

On the occasion, Shetty launched 12 creatively designed evil eye charms made in 22 karat gold.

The company has also launched its own minted 24 karat (999) purity gold coins in different sizes. The coins will be apt for gifting, Shetty said.

Satyug is also launching, for a limited period and in association with the Indian Bullion & Jewellers Association (IBJA), a scheme that will offer patrons chance to purchase pure 24 karat gold at up to 37 per cent off the prevailing market rates linked to various delivery tenures.

Satyug has inked a five-year deal with the association worth Rs 25 crore as royalty payment, said IBJA President Mohit Kamboj.

Size of India's gems and jewellery industry is likely to double to Rs 5,00,000 crore by 2018 and investment demand in the form of coins and bars has a capacity to reach Rs 1,80,000 crore by 2018 from Rs 85,000 crore in FY 12.

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News Network
February 3,2020

Feb 3: Actor-cum-activist Swara Bhaskar on Sunday targetted the Central government over granting Padma Shri to Pakistan-origin singer Adnan Sami who became an Indian citizen in 2016.

Addressing "Save the Constitution, Save the Country" rally here in Madhya Pradesh, Bhaskar said that passing the new citizenship amendment act tantamount to "betrayal" of the Constitution.

Sami, born in London to a Pakistani Air force veteran, applied for Indian citizenship in 2015 and became a citizen of the country in January 2016.

He was one of the 118 people chosen for the Padma Shri awards by the Centre last month.

"The legal process to grant citizenship to refugees and arrest infiltrators already exists in India. You (the government) have granted Indian citizenship to Adnan Sami and now selected him for Padma Shri through that process. (If this is the case) What is the need and justification for the Citizenship Amendment Act?" Bhaskar asked.

"On the one hand you abuse us (anti-CAA protesters), cane-charge us, slap us, hurl teargas shells at us and on the other hand you award Padma Shri to a Pakistani," she said

Bhaskar said the government labels some people as the members of "tukde-tukde gang" and anti-nationals" as per its convenience.

"Supporters of the CAA and the NRC keep harping about the so-called infiltrators having entered our country. If that is the case then why are we unable to see these intruders?" she asked.

"The problem is that they have intruded into the minds of the government and the ruling party," she said.

Bhaskar said the government seems to have "fallen in love with Pakistan".

"It sees Pakistan everywhere. My devout grandmother doesn't chant Hanuman Chalisa as often as this government keeps chanting the Pakistan mantra," she said.

Without naming the RSS, the actor said, "Sitting in Nagpur, these people are spreading politics of hatred".

Bhaskar said Pakistan chose to become a religious nation after the Partition in 1947 unlike India which opted to become a "secular republic where one's religion has nothing to do with citizenship".

"(Pakistan founder Mohammad Ali) Jinnah died a long ago, but his admirers want to divide the country again in the name of a religion," Bhaskar said.

She criticised BJP national general secretary Kailash Vijayvargiya for his controversial remarks about the 'presence' of Bangladeshi infiltrators in Indore, after some labourers were found eating poha and not rotis.

"If poha is Bangladeshi cuisine, then Kailash Vijayvariya, who grew up eating poha (in Indore), should be required to show his Indian citizenship papers," she demanded.

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Agencies
July 11,2020

New Delhi, Jul 11: The COVID-19 triggered restrictions on cinema exhibition industry have not only disheartened movie goers, but axed several thousand jobs and costed the industry an estimated ₹ 5,000 crore in revenue.

The sector has been one of the hardest hit due to COVID-19 pandemic and the subsequent restrictions implemented to curb its spread.

Presently, cinemas and multiplexes continue to remain in the list of prohibited activities under the Centre's Unlock 2.0 Guidelines.

In an interview to media persons, movie exhibition major Inox Leisure's Chief Executive Alok Tandon said, "The industry on an average collects about ₹ 1,000 crore a month of 'Box Office' and on an average generates about ₹ 500 crore a month of ancillary revenues."

"Keeping in mind that the lockdown has been effective for more than 100 days now, which is about 3.5 months, the cinema exhibition industry would have accumulated losses worth ₹ 5,000 crore so far."

According to Tandon, associated businesses such as pre and post-production, make-up artistes, graphics, film set fabrication, film crew, events, marketing, F&B services have all been impacted due to the restrictions.

"With the production and exhibition of movies coming to a halt, the industry was bound to witness some job losses," he said without divulging any estimates.

As per industry data, the multiplex industry in India employs more than 200,000 people directly and accounts for nearly 60 % of revenues of the film business.

On the way forward, Tandon elaborated that the industry expects to regain business momentum and sentiment post resumption of operations.

"We believe it will be a matter of a couple of blockbusters, and we will be back to our usual operational numbers," he said.

"We are rightfully relying on the unshakeable passion of the Indian movie lovers, who are yearning to step out and spend time enjoying the giant screen experience."

Furthermore, he cited that industry has sent representation to the Centre for immediate re-commencement of operations and a support package.

"We have requested for financial support in the form of salary subsidies during the lockdown period, interest-free loans for three years, exemptions from various taxes and duties, like 'GST, Show tax, LBETs and Property taxes' for a period of one year from the date of operations, waiver on electricity minimum demand charges for one year and auto renewal of licenses and permits for the next one year," he said.

"We have been talking to our mall developer partners and are working together with them to see through this phase."

However, even after re-commencement, the industry anticipates at least 3-6 months before things return anywhere close to normal.

"The cinema ecosystem is such that we will need all the aspects of the business to swing into action and fire together for us to see a resurgence, and we are highly optimistic about the same," he said.

In terms of global experience, Tandon pointed out that cinemas have started operating in more than 25 major countries, and some of those markets are witnessing a healthy response.

"India is a massive movie market and we are confident that the passionate and responsible movie lovers will turn up in huge numbers to enjoy their favourite form of entertainment and also follow the prevention guidelines at the same time, ensuring a safe and steady revival of the cinema exhibition sector," Tandon said.

The film exhibition industry in India is mainly comprised of single screen and multiplexes.

At present there are around 9,527 cinemas across the country, including 6,327 single and 3,200 multiplex screens.

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Agencies
August 4,2020

Mumbai,  Aug 4: BJP leader Narayan Rane on Tuesday claimed that Sushant Singh Rajput did not "commit suicide" and alleged that the actor was murdered.

He also alleged that the Maharashtra government is trying to save someone.

Addressing a press conference here, Rane said: "Sushant Singh Rajput did not commit suicide. He was murdered. Maharashtra government is trying to save someone. It is not paying attention to the case."

Meanwhile, the Bihar government sent a recommendation for the Central Bureau of Investigation (CBI) inquiry in the case filed by Rajput's father KK Singh in Patna.

"The State Government has sent a recommendation for CBI inquiry in the case filed by Late Shri Sushant Singh Rajput's father, Shri KK Singh, related to the death of Late Sushant Singh Rajput in Patna," Chief Minister Nitish Kumar tweeted.

Earlier, KK Singh had revealed that he had filed a complaint with Mumbai police in February claiming his son's life was in danger. The revelation came as he filed an FIR with Patna police, alleging Mumbai police of inaction even after 40 days of the actor's sudden death.

In a self-made video, Singh alleged that the accused in the actor's death case is on the loose and Patna Police should be provided with help.

"On February 25, I informed Bandra Police that the life of my son Sushant is in danger. He died on June 14 and I asked them to act against people named in my Feb 25 complaint. 

No action has been taken even 40 days after his death. So, I filed FIR in Patna. Patna Police swung into action. But the accused is running away(on the loose). Patna Police should be given help. I thank Chief Minister Nitish Kumar and his colleague Sanjay Jha who gave support to the truth in this hour of grief," he said.

After the actor's demise on June 14, he asked the police to take action against the people named in the complaint given by him on February 25, said Singh, adding that no action has been taken.

An FIR was filed by Patna Police against actor Rhea Chakraborty in the Rajput's death case under several sections of the Indian Penal Code (IPC) including abetment of suicide. Bihar Police started the investigation and dispatched a team to Mumbai.

Earlier, Maharashtra Home Minister Anil Deshmukh condemned the demand for Sushant Singh Rajput's death case to be handed over to the CBI.

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