Rajinikanth’s property worth Rs 20 crore to be auctioned

[email protected] (BollywoodMantra)
December 27, 2014

Mumbai, Dec 27: Rajinikanth’s wife Latha is in financial trouble. Exim Bank has put the superstar’s property on auction to recover the money. The production house Mediaone Global Entertainment Limited took Rs 20 crore loan from bank but failed to return the loan. Including interest, the loan amount reached to Rs. 22.21 Crore. Now to recover the money, Exim bank has put Rajinikanth’s wife's 1.5 acre property in Padapai, Kancheepuram district, nearly 80 km from Chennai on auction.

The bank published auction advertisement in print media. Rajini’s wife Latha stood as a guarantor for a loan to Mediaone Global Entertainment Ltd.

Rajinikanth"This amount is due as on July 17, 2014 together with further interest and liquidated damages as per contractual rates and other expenses/costs thereon with effect from July 18, 2014 till payment within 60 days from the date of receipt of the said notice. The borrower in particular and the public in general are hereby cautioned not to deal with the property/asset and any dealings with the property/asset will be subject to charges of Exim Bank for the amount outstanding as per its security documents, with further interest, costs, expenses and charges thereon with payment," the notice said.

Film industry sources said the superstar’s financial crisis begins after ‘Lingaa’ doomed at the box office. "Linga is a commercial failure. Already distributors have upped their ante and some of them have started demanding compensation from Rajinikanth. A few among them have indeed planned to picket the superstar's residence demanding compensation. After Rajinikanth compensated several distributors in a situation like this 10 years ago when his film Baba flopped, the distributors tasted blood. Now they want the superstar to repeat the same. But I don't think Rajinikanth will yield this time," says a producer on condition of anonymity.

Another source said that the mistake lay on both sides, Latha Rajinikanth and Exim Bank. "Latha Rajinikanth should had known her obligations and so was the bank and I think both failed in their fiduciary responsibilities," says Shyam Sekar, an independent financial analyst.

Two consecutive flops, ‘Kochadaiyaan’ and ‘Lingaa’ land the superstar in financial problem. Rajinikanth's serious ailments in 2011 further worsen his condition, "In 2011, he fell seriously ill and was taken to Singapore Mount Elizabeth Hospital for treatment. He was there for a few months. Though he acted in two films after that, he has not fully recovered yet," says an industry source.

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News Network
June 16,2020

Mumbai, Jun 16: Filmmaker Dibakar Banerjee remembers Sushant Singh Rajput as a dance loving 'chhokra' from an engineering college who, having made it in Bollywood, was “enthused, sincere and totally focused” on his craft.

Banerjeee said the actor always had “a book or two” with him and took pride in the fact that he had an “inner intellectual life away from the shallower aspects of showbiz”.

Rajput was found dead in his Bandra apartment on Sunday at the age of 34, leaving his friends, colleagues and collaborators in a state of shock.

The Patna-born actor and the director worked together in 2015 film "Detective Byomkesh Bakshy!" when Rajput was a relative newcomer in the industry. Banerjee says it was Rajput's vulnerability and willingness to do different that made him stand out for the role.

In an interview with news agency, the filmmaker looks back at Rajput's sincerity, his love for science and astronomy and how an outsider has to work harder than a "mediocre, unmotivated and entitled establishment elite" to succeed in Bollywood.

Excerpts:

You worked with Sushant when he was less than two-year-old in the film industry. What struck you the most in him to cast as Detective Byomkesh Bakshy?

Banerjee: His vulnerability and intensity and the ambition to do different things than the usual Bollywood stuff.

What were your memories of Sushant- the actor and the person?

Banerjee: As an actor he would tense himself up for the scene and then completely plunge in take after take. He would put a lot of value on preparation. He would be up the previous night of the shoot, reading the scene and making notes and land up on the sets all raring to go.

He would be on, ready and give his hundred per cent throughout the shoot of Byomkesh - no matter how hard or long the day. The unit did not really have to worry about him - considering he was the star. That's what I remember - a total pro, enthused, sincere and totally focused.

As a person, he seemed to me a happy dance loving 'chhokra' from an engineering college who had made it in showbiz and now was serious about acting. He was deeply nostalgic about his carefree student days in Delhi. We used to laugh a lot - I remember that quite clearly.

Sushant's friends say that he spoke more about books and his love for astronomy than films and their fate, which is rare for an actor in the industry. Do you also remember him that way?

Banerjee: Totally true. He was a science and astronomy nut. Always had a book or two with him - and was proud of the fact that he had an inner intellectual life away from the shallower aspects of showbiz. I recognized it as a reflex, protective action to prevent the Bollywood swamp sucking him in totally. And also an identity he wanted to protect and project.

Sushant's death has brought to the fore the struggles of outsiders and the alienation they often face from the nepotistic culture of the industry. Did you feel that Sushant was also fighting this battle despite being a successful actor?

Banerjee: We all fight it, day in and out - whether successful or failing. But the trick is to define that success and failure ourselves and not let the narrative constantly forced by the establishment to get to you. Those who know this weather the storm and ultimately survive and thrive.

The biggest unfairness in all this is that it takes double the talent, energy and hard work for an outsider to convince the audience and the industry that he or she is as safe a box office bet as a mediocre, unmotivated and entitled establishment elite.

The media colludes in this by wallowing in family, coterie and celebrity worship. This leads to deep anger and frustration. Those who can let this slide survive. Those who can't - those who hurt a little more or are vulnerable and impressionable - they are at risk.

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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
July 3,2020

Mumbai, Jul 3: Renowned Bollywood choreographer Saroj Khan died early on Friday morning due to cardiac arrest. She was 71.

The three-time National Award winner, who had choreographed some of the most memorable songs in Hindi cinema, was not keeping well for some time.

She was admitted to Guru Nanak Hospital in Bandra last Saturday after she complained of breathing issues. The mandatory COVID-19 test done at the hospital showed a negative result.

“She passed away due to cardiac arrest at around 2.30 a.m. at the hospital,” Khan’s nephew Manish Jagwani said.

In a career spanning over four decades, Khan is credited with choreographing more than 2,000 songs, including Dola Re Dola from Sanjay Leela Bhansali’s Devdas, Ek Do Teen from Madhuri Dixit-starrer Tezaab and Ye Ishq Haaye from Jab We Met in 2007.

She last choreographed for Tabaah Hogaye, featuring Madhuri from filmmaker Karan Johar’s production Kalank in 2019.

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