RANBAXY, VISTAAR LAUNCH RS. 2bn FILM FUND
Mumbai, March 4, 2008 (IANS)

Financial services company Religare Enterprise Ltd, the financial investment arm of pharma major Ranbaxy, in association with Vistaar Entertainment Ventures Ltd Tuesday launched a film fund worth Rs.2 billion ($50 million) to invest in Indian and overseas film projects. Named as the Vistaar Religare Film Fund (VRFF), it would be the country's first regulated film fund, said a release issued by Religare. VRFF will be close-ended and will have a lock-in period of five years.

The fund would focus on providing the new talent a platform for equality of market exploitation. "This fund will be yet another step from our umbrella and it's a strong combination of sharp, seasoned financial minds along with experienced and innovative minds from the business of entertainment and films," said Sunil Godhwani, chief executive officer and managing director of the New Delhi-based Religare Enterprises. VRFF will focus on "the business of show business..." and provide ample opportunity for new directors, talent and writers, he said.

Ranbaxy enters filmmaking business
By Subhash K. Jha, Mumbai, March 5, 2008 (IANS)

"Dharm" director Bhavna Talwar and her producer-husband Sheetal have tied up with Religare to promote intellectual cinematic talent. "We're starting a film fund which we'll announce. We were being approached by several corporate houses for movie deals, but we weren't sure if that was the right thing to do," Sheetal told IANS.Bhavana and Sheetal have invited the likes of Pankaj Kapur and "Cheeni Kum" director R. Balakrishnan to the company.

"The idea is to have a bank of creative film people. I'm certain there are many more Bhavna Talwars out there. We've lost the creative thread because we didn't respect talent. I'm not saying we shouldn't do entertaining cinema. But the reality is we can make money even through realistic cinema.

"We've to keep putting out products like 'Dharm' and the audience for it is bound to evolve. But even the motive behind experimental films is suspect. Everyone wants to invest Rs.5 million in a movie like 'Bheja Fry' and make Rs.1.5 million. With this attitude we can never promote good cinema.

"Our idea is to just rake in 20 percent of our investments. In any business that's a fair return. We need to encourage wealth of talent."

Besides Bhavna's directorial venture written by Mohinder Pratap Singh Awasthi, Asif Ali Shaikh, who edited "Dharm", is making a fairy tale fantasy. "It reminded me of Salman Rushdie's 'Haroun & The Sea Of Tales'. But it isn't a children's film. Shaikh's film goes to the floor in June. We're also producing ad filmmaker Johnny Pinto's film, which would be an Indo-US co-production. It will convey a contemporary message on consumerism."