News Broadcasting

Crest Comm board finalises $ 5.8 million GDR

Published

22 years ago

January 8, 2004

MUMBAI: The board of directors sub-committee of the Mumbai-based Crest Communications Ltd has finalised the size and pricing of its GDR issue.

The sub-committee, in its meeting held on 7 January 2004, has approved a 0.75 million GDR issue at a placing price of US$ 7.75 per GDR aggregating to over US$ 5.8 million. In its annual general meeting (AGM) held on 8 September 2003, the company had sought and secured the approval of its members for a GDR issue of up to $ 10 million to raise funds for the company.

Crest Communications informed the Bombay Stock Exchange (BSE) that each GDR would represent 10 underlying equity shares of face value of Rs 10 each. The issue is slated to open on 14 January 2004 subject to approval from Luxembourg Stock Exchanges and will be open for such period as may be advised by the lead managers. In October 2003, Crest had appointed RP&C International Inc and RP&C International (Securities) Inc, New York, as lead managers and Norton Rose, New York, as legal adviser in UK for the issue.

Crest Communications vice president strategy and finance Abhay Bhalerao told indiantelevision.com that the funds raised through the GDR route would be channeled towards their animation business. Sounding confident about the future of animation in India he said, “In a few years time, the animation industry will be joining the ranks of auto ancillary and information technology in terms of industry status.” However, the specific details of the issue would be available once the prospectus is filed with the BSE on 14 January 2004.

In its meeting held on 5 January, the board had approved the offering circular, depository agreement, placement agreement and other ancillary documents relating to the GDR offer and authorized the sub committee (Global Depository Issue Committee) to finalise the pricing and size of the issue.

Crest Communications is primarily into animation software. It specialises in multi format digital production and post-production editing. Its mainline business includes commercial television serials and packaging, ad films, 3D/2D animation and special effects.

Recently, the animation major pocketed a number of international projects. Among them is a prime time television series called Jakers! The Adventures Of Piggley Winks, which is a Sunday prime time show on PBS – the largest terrestrial station in the US. “All the work including the set design, the animation was done here at Crest. It comprises of 40 half-hour episodes. We delivered the work to a studio called Mike Young Productions. It took around 10 months to deliver it,” Crest Communications international business head A K Madhavan told indiantelevision.com in an earlier interview.

“We have also delivered five direct-to-home (DTH) videos which mix 2D with 3D animation called Kids’ Ten Commandments. The content is targeted at a specific niche Christian market and sold through Bible distributor Tindale. Five DVDs have been delivered to them.”

“Right now, production is on for five DTH videos for a series called New Testament. We are also doing multiple 3D television series and have installed 100 graphics machines for the same. By March, we would have added another 100. The purchase orders have been placed. Our aim is to deliver three television series every month by June,” Madhavan had further added.

At present, Crest is working on contracts worth more than $ four million and is negotiating for another $15-20 million worth of contracts.

So far it has produced six full-length animated feature films and over 60 half-hour animation projects for various studios, including its own Animated Hero Classics series. This enjoyed a two-year run on HBO in the US.

In the first half of 2003, Crest Communications had bagged three 3D animation television series worth over $6 million from the US-based Mike Productions. Its competitors in India include Pentamedia, UTV Toons, Colour Chips and the Padmalaya-Zee Telefilms combine.

News Broadcasting

Barc forensic audit in TRP row awaits as Twenty-Four probe gathers pace

Published

1 month ago

February 4, 2026

indiantelevision.com Team

KERALA: A forensic audit commissioned by the Broadcast Audience Research Council (BARC) India has emerged as the centrepiece of the government’s response to fresh allegations of television rating point manipulation involving a regional news channel in Kerala, with both the audit findings and a parallel police investigation still awaited.

Replying to a query in the Lok Sabha, minister of state for information and broadcasting L Murugan, said Barc had appointed an independent agency to conduct a forensic probe into the conduct of senior personnel allegedly linked to the case.

The move followed media reports claiming that a Barc employee had accepted bribes to manipulate viewership data in favour of a regional television news channel.

“The report from BARC is still awaited,” Murugan told Parliament, signalling that the forensic exercise remains ongoing.

Industry specialists say forensic audits are crucial in alleged TRP fraud cases, as they examine internal controls, data access trails, panel household integrity, staff communications and financial transactions. The outcome could determine whether the alleged manipulation was an isolated breach or a deeper systemic weakness in India’s television measurement framework.

Running alongside the audit, the Kerala Police has formed a special investigation team to probe the allegations. The ministry has sought a preliminary report from the state’s director general of police, including details of action taken on the first information report. That report, too, is yet to be submitted.

The episode has revived long-standing concerns over the vulnerability of India’s TRP system, particularly in regional news markets where competition for ratings is fierce and advertising revenues hinge on weekly viewership rankings.

India’s sole television audience measurement body Barc, has faced scrutiny before, most notably during the nationwide TRP controversy involving news channels in 2020. While tighter compliance norms were introduced in the aftermath, the latest allegations suggest enforcement challenges may persist.

On regulatory consequences, the government said any punitive action against television channels, including suspension or cancellation of uplinking and downlinking permissions, would be governed by the Policy Guidelines for Uplinking and Downlinking of Television Channels issued in November 2022, and would depend on investigation outcomes and due process.

The ministry also pointed to ongoing efforts to overhaul the ratings ecosystem. Television measurement continues to be regulated under the Policy Guidelines for Television Rating Agencies, 2014. Draft amendments were released for public consultation in July 2025, followed by a revised version in November 2025, aimed at tightening audit mechanisms and improving transparency and representativeness.

In November 2025, Barc said it had taken note of allegations aired by Malayalam news channel Twenty-Four, which linked an internal employee to irregularities in audience measurement. The council said it had engaged a “reputed independent agency” to conduct a comprehensive forensic audit, underscoring the seriousness of the claims.

The ratings system sits at the heart of India’s broadcast advertising economy, shaping billions of rupees in annual ad spends. With trust in audience data once again under strain, advertisers, broadcasters and regulators are closely watching the outcome of the investigations.

Barc has urged industry stakeholders and media organisations to exercise restraint while the probe is underway, calling for an end to “unverified or speculatory claims” and reiterating its commitment to integrity and accountability.

Until the forensic audit and police findings are submitted and reviewed, the government said it would refrain from drawing conclusions.

News Broadcasting

Rajat Sharma defamation row: Delhi court summons Congress leaders Ragini Nayak, Pawan Khera and Jairam Ramesh

Published

1 month ago

February 4, 2026

indiantelevision.com Team

NEW DELHI: A Delhi court has ordered the summoning of senior Congress leaders Ragini Nayak, Pawan Khera and Jairam Ramesh in a criminal case filed by veteran journalist Rajat Sharma, sharpening a legal battle over alleged defamation and doctored digital content.

The order was passed on Monday by Devanshi Janmeja, judicial magistrate first class at Saket Courts, after the court found prima facie grounds to proceed under multiple sections of the Indian Penal Code, including forgery, creation of false electronic records and defamation.

Sharma, chairman and editor-in-chief of India TV, had approached the court over allegations made in June 2024 that he had used derogatory language against Congress spokesperson Ragini Nayak during a live television debate. He denied the charge, claiming it was fuelled by a manipulated video circulated online.

According to the complaint, a clipped version of the broadcast carrying superimposed captions, which were not part of the original programme, was first shared on social media platform X by Nayak and later amplified through retweets and public statements by Khera and Ramesh. Sharma said the viral spread caused serious reputational harm and personal distress.

The court took note of forensic science laboratory findings that pointed to visible post-production alterations in the video, including added titles and captions. It also cited witness testimonies from those present during the live broadcast, who stated that no abusive or objectionable language had been used.

In a related civil matter, the Delhi High Court had earlier observed a prima facie absence of abusive remarks and directed the removal of the disputed social media posts.

With criminal proceedings now set in motion, the case adds to mounting scrutiny around political messaging, digital manipulation and accountability on social media platforms.

News Broadcasting

Mukesh Ambani, Larry Fink come together for CNBC-TV18 exclusive

Reliance and BlackRock chiefs map the future of investing as global capital eyes India

Published

1 month ago

February 4, 2026

indiantelevision.com Team

MUMBAI: India’s capital story takes centre stage today as Mukesh Ambani and Larry Fink sit down for a rare joint television conversation, bringing together two of the most powerful voices in global business at a moment of economic churn and opportunity.

The Reliance Industries chief and the BlackRock boss will speak with Shereen Bhan, managing editor of CNBC-TV18, in an exclusive interaction airing from 3:00 pm on February 4. The timing is deliberate. Geopolitics are tense, technology is disruptive and capital is choosier. India, meanwhile, is pitching itself as a long-term bet.

The pairing is symbolic. Reliance straddles energy transition, digital infrastructure and consumer growth in the world’s fastest-expanding major economy. BlackRock, the world’s largest asset manager, oversees more than $14 tn in assets and sits at the nerve centre of global capital flows. When the two talk, markets tend to listen.

Fink’s appearance marks his third India visit, a signal of the country’s rising strategic weight for the Wall Street-listed firm, which carries a market value above $177 bn. His earlier 2023 trips included an October stop in New Delhi, where he met both Ambani and Narendra Modi.

India is now central to BlackRock’s expansion plans, notably through its joint venture with Jio Financial Services. Announced in July 2023, the 50:50 venture, JioBlackRock, commits up to $150 mn each from the partners to build a digital-first asset-management platform aimed at India’s swelling investor class.

The backdrop is robust. BlackRock ended 2025 with record assets under management of $14.04 tn, helped by $698 bn in net inflows, including $342 bn in the fourth quarter alone. Scale gives Fink both heft and a long lens on where money is moving.

He has been openly bullish on India. At the Saudi-US Investment Summit in Riyadh last year, Fink argued that the “fog of global uncertainty is lifting”, with capital returning to dynamic markets such as India, drawn by reforms, demographics and durable return potential.

Expect the conversation to range beyond balance sheets, into technology’s role in finance, access to capital and the mechanics of sustainable growth in a fracturing world order. For investors and policymakers alike, it is a snapshot of how big money is thinking about India.

At a time when capital is cautious and growth is contested, India wants to be the exception. When Ambani and Fink share a stage, it is less a chat and more a signal. The world’s money is still looking for its next big story, and India intends to be it.