COVID-19: No film, TV, digital shoot from March 19 to 31

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.

Jaipur, Jan 24: Actor Sonali Bendre has said that she came into the movies to make money but fell in love with the profession where she discovered herself and found her family and friends. The 45-year-old actor said she owed a lot to Bollywood which is the most wonderful place to be, both mentally as well as creatively.

"I came into movies to make money and I fell in love with the profession. It was the most wonderful place to be, mentally and creatively," she said.

"I found myself there, found my friends and family over there. I owe a lot to Bollywood. It was one of the most wonderful things that happened to me," Sonali said here on Thursday.

The actor said her entry into movies by purely because she happened to be at the right place and at the right time.

Sonali added when acting offers came her way she knew that in no other field could she have made as much money, and as quickly, as she did in movies.

"Basically, I got into this because it was great money," she said.

The actor was speaking at the Jaipur Literature Festival and also talked about books and how her book club named ‘Sonali's Book Club' came into being.

Sonali, who has been convalescing after undergoing treatment for cancer in the US, said that books gave her strength and kept her afloat while she was going through one of the toughest phases of her life.

The actor was diagnosed with high grade cancer in July 2018 and underwent treatment for it in New York.

"Books were my friends other than my sisters while I was growing up. I'm nowhere remotely connected to movies. I have a very middle class Maharashtrian upbringing. When I got into movies, it was like being on another planet. Again in this world where it was easy to feel the peer pressure and do certain things or not do certain things, or look a certain way, books kept me grounded," she said.

"'A Gentleman in Moscow' (a 2016 novel by Amor Towles) was uplifting and I got so much strength from that book during my treatment in New York," Sonali said.

The actor, who often shares posts about books and authors on social media, said one should stop feeling guilty about not completing a book.

"Sometimes you start judging yourself by not completing a book, but I have reached a stage where I understand that I'm a book-lover, but that doesn't mean I will like all the books. It's okay if you don't like a book," she said.

Sonali also said that nobody wanted to know about the intellectual capacity of Bollywood stars as it was not "entertainment enough or gossipy enough".

Earlier before her session, Sonali launched author Ashwin Sanghi's latest book ‘The Vault of Vishnu', the sixth book in the Bharat series, at the 13th edition of the festival.

Kochi, Jan 6: A trial court on Monday framed charges against Malayalam film actor Dileep and other accused in the case of alleged abduction and molestation of a south Indian actress in 2017.

The actor and nine other accused were present in the additional special sessions court in Ernakulamwhen the charges were framed against them.

All of them have denied the charges.

On Saturday, the Court had dismissed a plea filed by Dileep, seeking to exclude him from the list of accused.

The Court had admitted the prosecution argument that there is prima facie evidence against him in the crime and dismissed the plea of the actor, who is eighth accused in the case.

The court had also not allowed a plea by the actor to grant him 10 days time to file the appeal in a higher court in the light of the Supreme Court order in November 2019 that the trial should be completed in six months.

The court is hearing the case in-camera.

On December 19, Dileep, along with his lawyers and a technical expert, had examined the contents of the electronic records at the closed room of the court.

Earlier, the Supreme Court had directed that the actor be allowed to inspect the records to enable him to present an effective defence during the trial.

In February 2017, the actress was allegedly abducted and molested by the accused.

Seven people, including the key accused 'Pulsar' Suni were arrested in connection with the actress' abduction case.

There are 10 accused in the case.

The entire act had allegedly taken place in a moving vehicle, which was filmed by the accused to blackmail her.

Dileep was subsequently arrested and arrayed as an accused in connection with offences under provisions of the Indian Penal Code and IT Act.

The top court had directed that the trial in case be concluded expeditiously, preferably within six months from the date of the judgement.

A woman judge is hearing the case.

In February 2019, the High Court, while considering a plea seeking to transfer the case to a Sessions Court headed by a woman judge to conduct the trial, had ordered the CBI special court Judge-III Ernakulam Honey M Varghese to complete the trial expeditiously.