Pakistan to convert Rishi Kapoor's house in Peshawar into museum

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.

Mumbai, Jan 26: Filmmakers Karan Johar, Ekta Kapoor and actor Kangana Ranaut are among the six cinema personalities to be awarded the Padma Shri, officials said on Saturday.

Singers Suresh Wadkar and Adnan Sami as well as veteran TV actor Sarita Joshi have also been conferred with the fourth highest civilian honour of the country.

Karan and Ekta said they were humbled to receive the honour.

"Overwhelmed by so many emotions right now. Humbled, elated and also thankful for the opportunity to live my dream everyday, to create and to entertain. I know my father would be proud and I wish he was here to share this moment with me," he said in a statement posted on Twitter.

Son of veteran Bollywood producer late Yash Johar, Karan Johar started his career as a director in Hindi cinema with the 1998 hit Kuch Kuch Hota Hai.

The 47-year-old, who runs Dharma Productions, went on to direct several commercial blockbusters in Kabhi Khushi Kabhie Gham (2001), My Name Is Khan (2010), Student of the Year (2012) and Ae Dil Hai Mushkil among others.

Karan has also produced several critically-acclaimed films -- Wake Up Sid, Agneepath, Hasee Toh Phasee, Kapoors & Sons and Raazi.

Ekta, who started her showbiz journey with soap operas, most notably Kyunki Saas Bhi Bahu Thi, is the daughter of veteran actor Jeetendra.

She launched her banner Balaji Telefilms in 1994 and backed many popular TV shows, eventually branching out into movie production.

Ekta, 44, has produced films such as Love Sex Aur Dhoka, Once Upon a Time in Mumbai, The Dirty Picture, Udta Punjab and Veere Di Wedding.

"My foray into the industry started when I was just 17. I constantly heard I was 'too young', 'too raw' and it was 'too soon' to make things happen. Through the years I've realised it's never 'too soon' to live out your dreams and being 'too young' is probably the best thing," she said.

"Today, as l'm conferred with the 4th highest civilian honour- Padma Shri', I'm humbled. I hope to continue breaking boundaries, to continue giving young talent a chance and to strive to give back to the country for all the love that's come my way.

The timing couldn't have been more perfect, as this news arrives 2 days before my son's first birthday. Grateful & Thankful!" she added.

Kangana, a three-time National Award Winner, is the only Bollywood actor to receive the Padma Shri this year.

The 32-year-old, who made her debut in movies in 2006 with Gangster, is regarded as one of the most successful female artistes of this generation.

After a series of films with Mahesh Bhatt's banner, she found success with Madhur Bhandarkar's Fashion, for which she won her first National Film Award in 2009.

She went on to win two back-to-back National Film Awards for her performances in Queen (2014) and Tanu Weds Manu Returns (2015). Kangana's latest release is Panga.

Wadkar, 64, a veteran in the music industry, started his career as a playback singer in 1978 with song Seene mein jalan for Gaman. He has lent his voice to memorable tracks like Aye zindagi gale lagaa le, Aur is dil mein, Pardesi pardesi, Sapne mein, Raat ke dhai baje and Jag Ja.

In his over four-decade-long career, Wadkar has collaborated with celebrated composers RD Burman, Shiv-Hari, Ilayaraja, Khayyam, AR Rahman, Bappi Lahiri, Vishal Bhardwaj and Hridayanath Mangeshkar.

Sami, 48, now an Indian-citizen, made a mark for himself in country's indie-pop scene with single Kabhi toh nazar milao, for which he collaborated with veteran playback singer Asha Bhosle.

"The greatest moment for any Artiste is to be appreciated & recognised by his/her government. I am overwhelmed with infinite gratitude for being honoured with the 'Padma Shri' by the Government of India. It has been a 34 years musical journey.. 'Bohot Shukriya'!!" Sami tweeted.

He released various albums in the early 2000s and also served as music composer for films Lucky: No Time for Love (2005), Dhamaal (2007) and Shaurya (2008).

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.

Joshi, a household name and a popular theatre personality, started her acting career as a child artiste and made her TV debut in 1980s with Titliyan.

Some of her most iconic shows are Hasratein , Ek Mahal Ho Sapno Ka , Baa Bahoo Aur Baby and Bh Se Bhade.

Joshi, 78, has also featured in movies such as Nazar , Darna Zaroori Hai , Dasvidaniya , Singham Returns and Simmba.

She was bestowed with the Sangeet Natak Akademi award for acting in Gujarati in 1988.

"I am very happy and humbled with this honour. I am working from an early age, I have never worked for awards, for me work is worship. I have always worked from heart and given my best in whatever I have done. I will be known as Padma Shri Sarita Joshi, this is such a big honour. I am happy as my children are happy," Joshi told PTI.

The Padma Shri for this year has been awarded to a total of 118 eminent personalities across fields of art, literature and education, medicine, trade and industry, sports, public affairs, social work and science and engineering.

Washington, Jan 11: Fresh off his win at the Golden Globes, actor Joaquin Phoenix participated in a climate change protest and was arrested by the police.

The "Joker" star took part in the weekly protests against climate change, started by Hollywood veteran Jane Fonda.

According to Variety, the 45-year-old actor also addressed the crowd of close to 300 people.

In his short speech, he took aim at the meat and dairy industry for being the third leading cause of the climate crisis.

"Sometimes we wonder what can we do in this fight against climate change, and there is something that you can do today and tomorrow, by making a choice about what you consume," Phoenix said.

"There are things I can't avoid. I flew a plane here today, or last night rather, but one thing I can do is change my eating habits," he added.

Besides Phoenix, veteran Hollywood star Martin Sheen also turned up for the protest and got arrested by the police. Actors Maggie Gyllenhaal and Susan Sarandon were also present.

Capitol Police said it arrested 147 people who were charged with crowding, obstructing or incommoding. All the protestors were later released.

Fonda, who was on stage with Phoenix, called him "one of the greatest living actors today".

She has been protesting weekly as part of her "Fire Drill Fridays" initiative since announcing she was moving to Washington "to be closer to the epicenter of the fight for our climate." Her participation has ended in multiple arrests.

Earlier this month, Phoenix had talked about climate change at the Golden Globes ceremony, asking Hollywood to walk the talk on the issue.