ITV

Tag: Bombay High Court

  • Zeel seeks shareholder approval to acquire media business of DMCL

    Zeel seeks shareholder approval to acquire media business of DMCL

    MUMBAI: A few months post Zee Media’s amalgamation with Essel Publishers that brought the English newspaper DNA under Zee Media, its sister company Zee Entertainment (ZEEL) has called for a meeting of its shareholders to approve the scheme of arrangement with Diligent Media Corporation’s (DMCL) media business undertaking (MBU).

     

    The notice to shareholders says that the MBU conducts various events on women empowerment, education, automobiles and real estate.  It also consists of a non-news TV channel licence and certain registered intellectual properties for TV formats of various gaming-based shows.

     

    The court convened meeting shall be held on 4 June. The scheme looks at the demerger of the MBU from DMCL and then vesting it with ZEEL. Equity shareholders of DMCL will be given preference shares by ZEEL in the ratio of one preference share of Re 1 of ZEEL for every four equity shares of Rs 10 each held in DMCL. The company says that  2,22,73,886 preference shares shall be issued in all.

     

    Through this business, ZEEL is planning to give an impetus to its event management capabilities. Planned are events and game shows.

     

    The scheme, post approval by shareholders, is subject to the approvals of the central government and the Bombay High Court. All statutory licences, permissions, approvals or consents relating to, vested with and/or held by DMCL will be with ZEEL. All DMCL employees will then be considered as ZEEL employees.

     

    DMCL was formed in 2005 with a 50:50 JV between Essel Group and Dainik Bhaskar Corp (DB). In 2012, Essel Group bought out DB’s 50 per cent stake.

     

    The entire DMCL is now under the two arms of Essel – Zee Media with DNA and Zee Entertainment with the MBU.

  • TRAI to hold MSO-MCOF meet in Mumbai

    TRAI to hold MSO-MCOF meet in Mumbai

    MUMBAI: Maharashtra Cable Operators Federation (MCOF) that had recently approached the Bombay High Court challenging the payment of entertainment tax, billing and the carriage fee has now approached the Telecom Regulatory Authority of India (TRAI) to seek answers on the constitution of revenue share.

     

    “While the TRAI says that there should be a revenue share between the multi system operators (MSOs) and last mile owners (LMOs) on the subscription fee the LMO collects from the consumer, is that the only revenue in this cable TV universe?” questions MCOF president Arvind Prabhoo.

     

    According to Prabhoo, there should be clear definition of constitutes revenue. “Apart from subscription revenue, there is carriage fee revenue, advertising revenue and even activation revenue. So why it that these revenues are not shared amongst all the stakeholders of the cable TV system?” he asks.

     

    “Who decides what revenue is?” questions Prabhoo.

     

    With regards to this, a meeting has been called between the MSOs and MCOF by TRAI. “I had met N Parameswaran earlier this month and had discussed these issues with him. With regards to this, TRAI has decided to hold a meeting in Mumbai between MCOF and MSOs,” informs Prabhoo.

     

    When Indiantelevision.com contacted TRAI principal advisor N Parameswaran he confirmed the meeting, but said that no particular date was yet decided. “We will be holding a meeting between the two in order to address issues of billing,” concludes Parameswaran.  

  • Bajaj Auto wins civil suit on Hamara Bajaj

    Bajaj Auto wins civil suit on Hamara Bajaj

    A bollywood entertainment company had planned to release an entertainment movie with a title “Hamara Bajaj”. This was extensively covered by the media.

     

    Aggrieved by the infringement of its intellectual property rights vested in the marks “Hamara Bajaj” and “Bajaj”, Bajaj Auto Limited along with Bajaj Electricals Ltd. moved the Bombay High Court on March 25, 2013.

     

    The matter was heard at length by the Court.

     

    On September 21st, 2013 the Bombay High Court passed its order granting permanent injunction against the bollywood company from using the mark “Hamara Bajaj” as the movie title or in any other manner and from using the mark “Bajaj” in the proposed film.

     

    Copy of the Order is enclosed.
    Bajaj was represented by M/s Dhru and Company, Mumbai.

  • Salman Khan moves High Court seeking quashing of contempt case

    Salman Khan moves High Court seeking quashing of contempt case

    Actor Salman Khan has filed a petition in the Bombay High Court seeking quashing of a complaint filed against him in a magistrate’s court which wants contempt action for posting court orders in cases against him on his website.

    Khan’s petition, in which he pleaded that he had created the website only to ensure that there was no incorrect reporting by the media, is expected to come up for hearing tomorrow before Justice KU Chandiwal.

    A magistrate at Bandra court in Mumbai had issued summons to the actor on 10 July this year following a complaint filed by activist Hemant Patil alleging contempt of court action against Salman for allegedly posting court proceedings on his website – www.salmankhanfiles.com.

    The complaint alleged that Khan was embroiled in legal cases including the 2002 hit-and-run case involving him and said that by posting court matters on the website, the actor had committed contempt of court as the matters were subjudice.

    Khan, however, pleaded in his petition that he had created a website only to ensure that there was no incorrect reporting by the media and that the website gave factual information about his cases and nothing beyond that. He further said that no contempt had been committed by him.

  • Mukta Arts PAT at 1.04 per cent of income from ops for Q1-2014

    Mukta Arts PAT at 1.04 per cent of income from ops for Q1-2014

    BENGALURU: Mukta Arts Limited (MAL) announced a PAT of Rs 0.74 crore and total income from operations of Rs 71.45 crore for Q1-2014, which translates roughly to 1.04 per cent for Q1-2014. A major chunk (63.1 per cent) of this PAT – Rs 0.47 crore for Q1-2014, came from discontinuing operations (see Notes (3) below).

     

    PAT percentage for Q1-2013 was slightly higher at 1.21 per cent of total revenue, but numerically lower than Q1-2014 – PAT for Q1-2013 was Rs 0.59 crore, total income from operations was Rs 48.98 crore. Discontinuing operations added Rs 0.39 crore or 65.25 per cent of total PAT for Q1-2013.

     

    MAL incurred loss of Rs 2.49 crore in Q4-2013. Loss from discontinuing operations added Rs 0.38 crore or 15.15 per cent to the loss for Q4-2013.

     

    For FY-2013, MAL had total income from operations of Rs 257.82 crore and a PAT of Rs 2.90 crore, hence PAT was 1.13 per cent of total income from operations. Discontinuing operations added Rs 1.12 crore or 38.6 per cent to total PAT for FY-2013.

     

    Let us take a look at MAL’s other figures for Q1-2014

     

    Total income from operations for Q1-2014 at Rs 71.45 crore increased by 45.9 per cent as compared to the Rs 48.98 crore for Q1-2013 and 21.3 per cent as compared to the Rs 58.92 crore for Q4-2013. As mentioned above, MAL’s total income from operations for FY-2013 was Rs 257.82 crore.

     

    Total Expenditure for Q1-2014 at Rs 70.34 crore rose 42.2 per cent as compared to the Rs 49.39 crore for Q1-2013 and was 13.6 per cent more than the Rs 61.91 crore for Q4-2013.

     

    A major chunk of MAL’s expenditure is the Distributors and Producers share (DAPS). For Q1-2014, DAPS at Rs 64.94 crore (90.9 per cent of Total Income from operations) was 40.2 per cent more than the Rs 46.32 crore (94.6 per cent of Total Income from operations) for Q1-2013 and 20.9 per cent higher than the Rs 53.73 crore (91.2 per cent of Total Income from operations). For FY-2013, MAL had reported a DAPS of Rs 233.74 crore or 90.7 per cent of Total Income from operations.

     

    Segment Results

     

    Four segments – Software division; Equipment division; Theatrical Exhibition division; and Others are responsible for revenue for MAL.

     

    Revenue from MAL’s Software division contributes more than 90 per cent to its revenues. For Q1-2014, the Software division had revenue of Rs 65.92 crore (97.3 per cent of Total Income from operations), which was 34.9 per cent higher than the Rs 48.86 crore (96.5 per cent of Total Income from operations) for Q1-2013 and 20.9 per cent higher than the Rs 54.54 crore (92.6 per cent of Total Income from operations) for Q4-2013. For FY-2013, revenue from Software division at Rs 246.47 crore was 95.6 per cent of Total Income from operations.

     

    Revenues from MAL’s Equipment division and Theatrical Exhibition division were a small fraction at Rs 0.31 crore and Rs 3.68 crore respectively of overall revenues for Q1-2014 and have not been major contributors to MAL’s PAT for the quarter. Equipment division incurred a loss of Rs 0.06 crore in Q1-2014, while Theatrical division added Rs 0.08 crore to MAL’s profit before tax and finance costs.

     

    Revenue from ‘Other’ in Q1-2014 rose marginally (by 5.14 per cent) to Rs 1.71 crore from Rs 1.63 crore in Q1-2013 and was just 0.87 per cent higher than the Rs 1.70 crore for Q4-2013. This segment however added Rs 1.41 crore as compared to the Rs 0.69 crore from the Software division’s and formed a major chunk (66.25 per cent) of MAL’s profit before tax and finance costs for Q1-2014 at Rs 2.12 crore.

     

    NOTES: (1) In the matter of two PIL’s filed in the Bombay High Court, the Bombay High Court quashed the J.V. Agreement between Mukta Arts Limited (MAL) and Maharashtra Film Stage & Cultural Development Corporation Limited (MFSCDCL) and ordered Whistling Woods International (WWI) to return the 14.5 acre vacant land immediately and balance 5.5 acre land with structure by July 2014. Court also asked WWI to pay rent along with interest but allowed the same to be set off against market price of the building to be paid by Government as per valuation to be done. After Supreme Court of India dismissed the SLP filed by MAL against the impugned order, MAL & WWI have filed review petitions in Bombay High Court, which have not yet come up for hearing. MFSCDCL had demanded Rs 83.21 crore vide letter dated 3 December 2012, which has not been accounted for in view of the pending review petition referred to above. During the year 2012-13, the PWD Engineer has given his valuation report based on the Balance Sheet of WWI as at 31 March 2011. The said valuation report specifically mentions that market price is not considered.

     

    Further, MAL has made an application to the Government of Maharashtra in February 2013 to appoint expert valuers to determine the market price which in its view is the price to be determined by reading the directions in their proper perspective. Pending final disposal of the review petition and resolution of the above, and in view of the future plans for WWI which are being evaluated, management believes that the Company’s investments in WWI and amounts due therefrom are good and recoverable as management is hopeful of reliefs based on the issues involved and on merits of the case, as also of a high valuation of the building. The auditors continue to modify their report on the said matter.

     

    (2) Remuneration paid to the managing director of the Company for the year ended 31 March 2013 and for earlier financial years from 2005-06 to 2011-2012 is in excess of the limits prescribed under Schedule XIII to the Companies Act, 1956. The Company made applications to the Central Government seeking post-facto approval for earlier years, which is awaited; application for the year 2012-13 is proposed to be made. During the year 2011-12, the company had received approval for part of the excess remuneration paid. The company had made applications to the authorities requesting reconsideration/ approval for the balance excess remuneration. Pending final communication from the authorities in this regard and application for the year 2012-13, no adjustment has been made in these financial results. The auditors continue to modify their report on the said matter.

     

    (3) During the quarter ended 31 March 2013, the Board of Directors approved the formation, with another venturer, of a company as a subsidiary of Mukta Arts Limited to conduct the business of exhibition and programming currently being carried on by Mukta Arts Limited. The results of the said business have been disclosed as Discontinuing operations. Previous quarter’s/period’s figures have also been recast for comparative purposes.

     

    (4) Figures for the previous quarter/ period have been regrouped/ rearranged to conform to current quarter’s/ period’s presentation.

  • Salman Khan to appear in court today

    Salman Khan to appear in court today

    MUMBAI: Bollywood actor Salman Khan will appear before a Mumbai sessions court today in connection with the 2002 hit-and-run case.

    The Mumbai sessions court had previously rejected his review petition on 24 June. As a result, he will now be tried for culpable homicide not amounting to murder under Section 304 of IPC.

    Khan was earlier tried by a magistrate under lesser charge of causing death by negligence (Section 304A of IPC), that provides for a maximum punishment of two years in jail.

    The Bombay High Court had earlier held that Section 304 part II of the Indian Penal Code (culpable homicide not amounting to murder) was not applicable in this case and that the actor be tried under 304 A of IPC (rash and negligent driving) and other relevant sections.

    The metropolitan magistrate‘s court in Bandra had framed charges against the actor under Sections 304 A of the IPC (rash and negligent driving), 279 (rash driving), 337 (causing minor injuries), 338 (causing major injuries) and 427 (negligence).

    Salman‘s Toyota Land Cruiser vehicle had rammed into a bakery in suburban Bandra killing one and injuring four persons who were sleeping on a pavement on 28 September 2002.

  • IBF, NBA react strongly to SC’s refusal to stay Bombay High Court order imposing high penalty on Times Now

    IBF, NBA react strongly to SC’s refusal to stay Bombay High Court order imposing high penalty on Times Now

    NEW DELHI: The Indian Broadcasting Foundation (IBF) and the News Broadcasters Association today reacted strongly over the impact of the recent dismissal by Supreme Court of the Special Leave Petition filed by Times Now.

    The English news channel had sought relief against a Bombay High Court order directing it to deposit Rs 200 million and furnish bank guarantee for Rs 800 million to hear an appeal in a defamation case.

    Earlier, a district court in Pune had asked the channel to cough up Rs 1 billion as damages in favour of Justice (Retd) PB Sawant for alleged defamation. The channel had published the photograph of Justice Sawant in place of another Judge whose name was phonetically similar to that of Justice Sawant in connection with the Ghaziabad Provident Fund scam. 
       
    The channel had appealed to the High Court which had said that operation of the Rs 1 billion decree will be stayed only if Times Now deposits Rs 200 million in Court and secures the remaining Rs 800 million by a bank guarantee.

    Expressing “great surprise and concern”, the IBF said “We have been informed that conditions involving quantum of damages of this kind are unheard of in the history of defamation laws and effectively cripples the media‘s right to seek redressal by way of appeal. In a legal environment where awarding of exemplary and punitive damages are rarely seen, the trial court‘s decision definitely raises serious concerns as regards the media‘s freedom of speech and expression. This case is an example of how an unintentional and inadvertent error on the part of the media can result in onerous economical burden for itself, despite a public apology being tendered by Times Now.”

    Expressing its “sadness” at the Supreme Court decision, the NBA in a separate statement expressed its approval of the views expressed recently in the media on the Justice Sawant – Times Now suit, whereby eminent members of Society, including jurists of high attainment have said that in the larger interest of the constitutional guarantee of free speech, the decision should be revisited and reconsidered.

    The IBF added that the Media plays a very important role in protecting the fundamental rights of citizens and is often termed as the Fourth Pillar of Democracy. An independent, fearless and competitive media is an essential ingredient of a true democracy. Any curb on media independence is a threat to the democratic process and must be challenged. If stipulations such as these become the norm, news channels would be targeted at every instance, thereby affecting the survival and existence of this news industry. It also would challenge the democratic environment and the citizens‘ right to seek information.

    The IBF also agreed with the recent views that have appeared in the media on this case, that such decisions should be reviewed and reconsidered. If media is compelled to pay up damages of such quantum, especially when a public apology has been issued for ‘an inadvertent error‘, it would effectively cripple the functioning of the media and an economic burden of such nature would completely jeopardize media business as it directly impacts media freedom, independence and survival, the very essentials of a democratic set up in any country.

    The NBA said “if innocent errors committed by media are visited with such dire legal consequences and if media companies are compelled to pay such disproportionately exorbitant damages despite the issuance of a public apology, it would effectively cripple the functioning of the media. Economic burden of such gargantuan amounts would completely jeopardize media businesses and will directly impact media freedom, independence and survival, which are essential for a vibrant democratic set up in any country.”

    Thereafter, to impose a condition of pre-depositing or securing such huge quantum of damages – without which the broadcaster may face imminent attachment of its assets – effectively cripples the broadcaster‘s right to even seek redressal by way of appeal.
    The NBA added that the media plays a very important role in protecting the fundamental rights of the people, including the public‘s right to know and is often termed as “the fourth pillar” of democracy. An independent, fearless and dynamic media is a critical ingredient of a true democracy. Any curb on media independence whether direct or indirect, is a serious threat to the democratic process itself and must not be countenanced. If stipulations such as these become the norm, news media will be targeted at every instance, thereby affecting the very survival and existence of the news industry as a whole.

  • Bombay HC gives relief to Lankan makers of ‘A Wedneday’

    Bombay HC gives relief to Lankan makers of ‘A Wedneday’

    MUMBAI: In a major relief to the Sri Lankan producers of their version of ‘A Wednesday‘, a division of the Bombay High Court rejected a petition demanding the stay on the release of the film due to a contractual dispute.

    The application seeking the stay on the film’s release was made by UTV Software Communications which had given the making rights to Asia Digital Entertainment and Gemini Nation Digital of that country.

    The dispute was regarding the insertion of a clause by UTV that stipulated that non-Sri Lankan actors should not be used in the film.

    The application was rejected earlier by a single Bench of Justice S.J. Vajifdar in July last after which the production house appealed again to the Division Bench of Chief Justice Mohit Shah and Justice Roshan Dalvi that upheld the decision.

    In the first edition of JIAFF, 10 awards will be presented: Best Animation, Best Animated Film, Best 2D, Best 3D, Best VFX, Best Sound Track, Best Modeling & Texture, Best Lighting & Compositing, Best Student Film & Best Critic Film.

    The film starring Ben Kingsley and Ben Cross has been directed by Chandran Rutnam.

  • HTMT gets Bombay High Court approval for demerger

    HTMT gets Bombay High Court approval for demerger

    MUMBAI: Hinduja TMT’s scheme of demerger (Scheme of Arrangement and Reconstruction) has got sanction from the Bombay High Court. The demerged IT/BPO business under a new company is expected to list in two months.

    “We expect the entire process to take two months. The fixing of the record date should take a month and then we have to get the approval from Securities and Exchange Board of India (Sebi) for listing,” says an executive of the company.

    HTMT is unifying its media subsidiaries under one umbrella while spinning off its IT/ITES business into a separate entity. HTMT Technologies Ltd will hold the IT/BPO business. The company proposes to change this name to HTMT Global Solutions.

    The residual HTMT with media and real estate has a net worth of Rs 5.77 billion and a cash balance of Rs 2.06 billion (as of 1 October 2006). The IT/BPO company has a net worth of Rs 4.97 billion and a cash balance of Rs 200 million.

    HTMT also informed BSE that the court sanctioned the “reduction of the issued, subscribed and paid up equity share capital of the company, effected by reducing the face value of the equity shares to 1 equity share of Rs 5 each (from 1 equity shares of Rs 10) and simultaneously, consolidating 2 such equity shares of Rs 5 each into 1 equity share of Rs 10 each.”

  • Demerged Zee Tele to start trading from 18 December

    Demerged Zee Tele to start trading from 18 December

    MUMBAI: Zee Telefilms Limited (ZTL) today said that the demerged shares of the company would start trading on the stock exchanges from 18 December.

    This follows the hiving off, effective 22 November, of the cable and the regional and news broadcasting businesses into Wire & Wireless India Limited (WWIL) and Zee News Limited (ZNL) respectively. WWIL and ZNL will get listed on the bourses in January, the company announced.

    Demerged ZTL (including the DTH business undertaking) would continue to trade on the stock exchanges. A separate record date would be announced for the demerger of the DTH business of ZTL into ASC Enterprises Limited, to be renamed Dish TV India Limited (Dish), it was announced.

    The process of getting approval for the demerger of the DTH business is under way, the release adds.

    Zee Group chairman Subhash Chandra stated, “From 18th December, Zee Telefilms Limited would start trading as the demerged entity (to be renamed Zee Entertainment Enterprises Limited) and two new companies would start their journey as independently listed entities. Though the business of both WWIL and ZNL was earlier part of ZTL, they would be able to unlock greater shareholder value as independent companies.”

    Zee has already received approval of its demerger scheme by the Bombay High Court.

    Shareholders of ZTL would receive 45 shares of ZNL and 50 shares of WWIL for every 100 shares held in ZTL. As for Dish 100 shares in ZTL would translate into net 57 shares, implying effective shareholding of 57 per cent.