Eros International and Red Chillies announce brand tie-ups worth Rs52 crore for Ra.One
Eros International Media Ltd (Eros International), India’s largest integrated film studio along with Red Chillies Entertainment are set to release Shah Rukh Khan’s most ambitious project Ra.One this festive season on 26 October 2011. The countdown to the film’s release marks the culmination of one of the biggest marketing blitzkrieg for any Indian film ever, embarked upon by Eros and Shah Rukh Khan with brand tie-ups to the tune of Rs52 crore.
The country’s biggest brand SRK and leading film studio Eros have come together, jointly exploiting the film’s potential and additional revenue streams making Ra.One the first of its kind landmark film. Expected to be India’s best marketed film with a 360 degree global campaign and a record number of brands on board, the marketing spends on Ra.One have been subsidized considerably through major brand tie-ups in excess of 25 brands. These include Sony PlayStation, YouTube, Nerolac, McDonald’s, Western Union Money Transfer, UTV Indiagames, Videocon, Nokia, Coke, ESPN Star Sports and Cinthol amongst others.
Eros International and Red Chillies have already recovered a major portion of their investments through in-film branding, media endorsements and through pre-licensing cable and satellite rights, music and other rights.
Eros International is planning a very wide release for the super hero action packed film in 2D and 3D formats in Hindi, Tamil and Telugu with over 3500 screens worldwide, out of which approx 500 screens are expected to be in 3D in India and approximately 50 plus 3D screens overseas.
In the late afternoon, Eros International Media Ltd was trading at around Rs259.90 per share on the Bombay Stock Exchange, 3.16% up from the previous close.
SEBI chairman UK Sinha said ‘Know Your Customer’ details will have to be submitted to the market regulator for any P-Note issued post-September quarter
Kolkata: Market regulator Securities and Exchange Board of India (SEBI) today said the new disclosure norms on participatory notes (P-Notes) would be sufficient to keep a tab on hot money flowing into stocks and these guidelines would be in force by October-end, reports PTI.
“Any P-Note issued by brokers, Know Your Customer (KYC) details has to be submitted to SEBI from October-end,” SEBI chairman UK Sinha said here today at an interactive session at the Bharat Chamber of Commerce here.
“The new disclosure norms for P-Notes to SEBI will be sufficient to keep a tab on foreign money flowing in,” Mr Sinha said when asked about reports of black money flowing back into the Indian market.
He later said SEBI had made mandatory for KYC details for all P-Notes issued post-September quarter.
“We do not want to discourage, but a set of rules will be framed for investor protection,” Mr Sinha said.
P-Notes are instruments like contract notes issued by FIIs to overseas investors who cannot directly invest in equity market as they are not registered.
Mr Sinha said SEBI would iron out operational issues like KYC norms for FIIs investment in mutual funds. “There are some operational issues, but they will be sorted out,” he said.
SEBI will also take a decision on overhauling the IPO process, saying, “We are taking a complete relook at the IPO process.”
Meanwhile, SEBI today asserted that the regulator would not spare any violation of regulation and take strict action.
“Unless we take strong action, the situation will not improve,” Mr Sinha said.
He said the client code modifications were to the tune of Rs56,000 crore per month. “When SEBI took action, it came down to Rs120 crore a month. Even now we are not happy.”
Mr Sinha said that one particular stock exchange’s under recovery of margin in the past was as high as Rs12,000 crore which, he feared, could have led to a payment crisis.
All panellists of the Ponzi scheme are eagerly waiting for their money they had ‘invested’ in Speak Asia for earning huge returns. According to investigative reports, almost half of the money collected by Speak Asia was transferred to Singapore, while the rest may still be in India
The Economic Offences Wing (EOW) has speeded up the investigation in the Speak Asia scam to find out where the last source of the money—which the company collected on the pretext of giving income merely for filing e-surveys—was sent.
Sources from the investigating agency confirm that Speak Asia’s financial consultant has given a few leads in the matter before been sent to jail. An officer close to the investigation, preferring anonymity, told Moneylife, “Our major focus of the investigation is to find out the money trail. So far, it is learnt that some amount has been sent to Singapore, while the remaining is still in India.”
In the meantime, there are several sites and blogs which have come up over the Internet claiming to provide “latest and authentic” information about Speak Asia. However, all the sites and blogs are merely copying each other and trying very hard to keep their herd intact. One can see the mood of panellists from the comments posted below each article or blog post. The official website of Speak Asia remains down.
Currently, the EOW has arrested Speak Asia’s financial consultant Sanjeev Dandona and Nayan Khandor, a Mumbai-based Web designer responsible for designing e-surveys. “Both of them have been sent to jail custody till 26th October,” said an official from EOW.
Mr Dandona was arrested by the EOW on 29th September, after it was learnt that he was the proxy owner of Kritanj Management & Allied Services and is linked with Speak Asia. Kritanj Management is the master distributor of Singapore-based Haren Ventures Pte Ltd (HVP) for e-zines in India. Mr Dandona is also alleged to be advising HVP and Tulsient Tech Pvt Ltd and also transferring funds collected by Speak Asia agents to Singapore.
Just the day after the arrest of Mr Dandona, it was revealed that the online surveys, which Speak Asia used to claim (and its agents used to believe), were actually created not in Singapore, but in Mumbai. This was revealed following the arrest of Nayan Khandor on 30th September, a Web designer and director of Dadar (central Mumbai)-based Brand Salon, who said that his firm was active in creating the online surveys for Speak Asia.
During the interrogation, Mr Dandona had revealed that Speak Asia was indeed running a Ponzi scheme and Mr Khandor confessed that he designed the surveys from Mumbai itself. (See: http://www.moneylife.in/article/speak-asia-advisor-finally-confesses-the-company-was-running-a-ponzi-scheme/20369.html).
In a separate development in the same matter, the Andhra Pradesh High Court, on 11th October, dismissed the bail petitions of Rajiv Mehrotra, Speak Asia’s director, along with four other employees.
The Andhra Pradesh CID has registered a case against Speak Asia for running a money-chain business without any registration. The bail petition was dismissed and the HC also vacated a stay on the arrest of the officials after they moved the HC against the FIR (First Information Report).