Shocking! Shah Rukh Khan stopped from entering Mannat

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, Jun 15: Bollywood actor Shah Rukh Khan has paid a heartfelt tribute to actor Sushant Singh Rajput, who was found dead at his Bandra residence in Mumbai on Sunday.

Taking to Twitter, the superstar recalled the 'Kai Po Che' actor's "energy, enthusiasm, and his full happy smile."

Sushant, who was a big fan of Shah Rukh, was often compared to him as both the actors made a successful transition from the small screen to Bollywood without any Godfathers.

Sharing a throwback picture along with Sushant, Khan also noted how much the late actor loved him and asserted that he will surely miss him.

"He loved me so much...I will miss him so much. His energy, enthusiasm, and his full happy smile. May Allah bless his soul and my condolences to his near and dear ones. This is extremely sad....and so shocking!!," the tweet read.

Sushant, 34, committed suicide by hanging himself on Sunday, Additional Commissioner of Police Manoj Sharma confirmed. However, no suicide note has been recovered from Rajput's residence, as per the police and further investigation is underway.

As per the latest development, the body of the actor is brought to Dr RN Cooper Municipal General Hospital from his residence in Bandra.

The actor, who rose to fame with the 2008 television series 'Pavitra Rishta,' made his Bollywood debut with Abhishek Kapoor's 'Kai Po Che' in 2013.

One widely loved actor for his simplicity and humble nature, the actor gave hit movies to the entertainment industry, including MS Dhoni's biopic, where he played the cricketer on screen.

The star was last seen in Nitish Tiwari's 'Chhichhore,' alongside Shraddha Kapoor in 2019.

The news of the sudden demise of the actor left a bevy of his fans, and Bollywood celebrities in shock, triggering an outpouring of condolences.

Los Angeles, Jul 1: Actor Priyanka Chopra Jonas has struck a two-year television deal with Amazon. The 37-year-old actor shared the news about her "multimillion-dollar" first look deal with the streamer in a post on Instagram.

"So honoured and excited to finally share this news with you. Looking ahead, we already have so much on our slate! Big thank you to @jsalke and her team at Amazon for being such great partners, and for sharing in the belief that talent and good content knows no boundaries," Priyanka wrote.

The actor, who launched her own production banner Purple Pebble Pictures in 2015, said she aims to create "great content" featuring "creative talent" from all over the world.

"This has always been the DNA of my production house Purple Pebble Pictures, and is the foundation of this exciting new endeavour with Amazon. ⁣⁣

"And as a storyteller, my quest is to constantly push myself to explore new ideas that not only entertain but most importantly, open minds and perspectives," Priyanka said.

She thanked her fans for being a "big part of my journey so far".

"And for those who are just getting to know me, or maybe only recognise me as Alex Parrish from 'Quantico', I'm excited for you to get to know me better," Priyanka concluded.

Priyanka, who started her Hollywood career with ABC series Quantico, has featured in films such as Baywatch and Isn't It Romantic.

Amazon Studios head Jennifer Salke told Variety that she bonded with the actor over their "shared passion for diverse global storytelling".

"Priyanka is drawn to exciting original content and characters that can resonate globally. She’s a powerhouse producer, and we are thrilled to collaborate with her for years to come," she added.

Prior to her deal with Amazon, the actor lined up two projects with the streamer. She will star opposite Game of Thrones actor Richard Madden in upcoming thriller series Citadel, to be produced by Anthony and Joe Russo.

The actor will also feature in Sangeet, an unscripted series co-produced with her husband, Nick Jonas.

Priyanka's another project with Amazon is a film about Ma Anand Sheela, the assistant to guru Bhagwan Rajneesh (also known as Osho). The actor will be producing the movie which is based on Netflix docu-series Wild Wild Country.

Besides her association with Amazon, the actor will next star in two Netflix projects -- superhero movie We Can Be Heroes and The White Tiger,  opposite Rajkummar Rao.

She is currently shooting for Keanu Reeves-starrer The Matrix 4, which recently resumed filming after production was halted by the pandemic.