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Bollywood media & Entertainment Fund PLC
The Business Dinner of India Link International Business Forum was held on May 12 at Mantra Restaurant in the city. After the reception, Mr. Chandru Malkani, the vice president of the Forum, welcomed the members and the main guests of the evening Bobby Allwadhi, director Media vision and Mr Taylor of Canada Life Insurance.
Introducing Bobby, Mr. Krishan Ralleigh, General Secretary of the Forum explained the objectives of the Forum and pointed out that young people like Bobby are the second generation of Asian entrepreneur in Britain who started their professional life with all the advantages which an Asian home offers to their offspring. It is one of the objectives of the Forum to encourage the young Asian entrepreneur and achieve dizzy heights of business successes. For them, sky is the limit.
Bobby then gave a presentation of the Bollywood Media & Entertainment Fund PLC launched in Jauary 2005. Bobby said, “ The Fund seeks to achieve capital growth and will primarily invest into the Indian Film Industry. This will include providing financial assistance to Bollywood themed productions, foreign companies seeking to outsource their operations and co-production of movies with production houses in India. In addition, the Fun may, in the absolute discretion of the Directors acting on advice from appropriately qualified invesment advisers appointed by the Directors, invest part or all of its assets into listed companies opeerating in the same field.”
To elucidate further, Bobby emphasised that funding would be available to recognised and established Media and Entertain companies that are engaged in the businessof production, distribution of media and enterainment resources and technology services for various forms of entertainment, broadcasting and news servics.
The Fund has adopted a methodology that minimises risk by investing the underlying assets into a basket of film projects, which comprise small, medim and blockbuster movies. All productions will be backed either by Completion Guarantee Bonds or Bank guarantee.
In recognising the unique nature of investment into Bollywood film production and other related media, an independent Film advisory Board consisting of Mr. Udayan Bose (founder chairman Lazard India Ltd.), Mr. Pritish Nandy Chairman PNCL), Ms Parminder Vir OBE (Board director of the UK Film council, the Asian business Association, The Young Vic Theatre etc.) and Mr. N Jayakumar (CEO Prime Securities Ltd. has been set up to assess the merits of potential proposals, their financial implications and overall commercial prospects.
The Indian Media & Entertainment industry is one of the largest and fastest growing business sectors in the world. Indian cinma is regularly acclaimed for its lavish production sets and traditional musical interludes. the Indian film industry produces over 800 films per annum across 52 different languages. the indusry generates employment opportunities to almost 3 million people, which is projected to increase to over 4 million by the end of 2005.
The Non-Resident Indians are considered a major factor in creating a successful future for the industry. London has become the launch pad for Indian film, television, music and fashion. The Western world, it may be sid, has finally acknowledged the melodrama, glitz and glamour of theIndian movie business. Total revenue generated in the Indian Entertainment Industry has grown at the rate of 30% per annum. Indian government has at last moved to encourage corporatisation of the industry, improving access to bank finance and reform taxation laws to encourage exports. The Indian Film Industry is too big to resist.We are providing the oopportunity.