FilmIndia (1939)

the Registrar of Companies, Bombay. ) ORATION OF INDIA, LIMITED. ompanies Act of 1913 ) undertaken cheaply and efficiently by a special organisation properly equipped for this work alone. This innovation should be welcomed by the entire industry and at the same time will prove an important and immediate source of revenue. DISTRIBUTION: Cine Distribution of India, Limited, financed and controlled by Cine Finance & Banking Corporation of India. Limited, will combine the functions of '"Renters" and "Exhibitors '. They will enter into renting contracts with their own associated producing organisation and also with outside producers, and distribute the films they control under those contracts through their own circuits and among exhibitors outside. These circuits will be built up by building, purchasing, renting or otherwise conti oiling Cinema Houses of all grades throughout India. A properly capitalised Distribution Company is greatly needed in India and when combined with exhibiting, as in this instance, is very remunerative. PUBLICITY: Cine Publicity of India, Limited, financed and controlled by Cine Finance & Banking Corporation of India, Limited, is a Department of this organisation which also, from the outset, can confidently expect highly remunerative support by merchants, shippers and traders all over the world. Publicity and Advertising by means of the Film is in its infancy, but its powerful appeal is realised more and more every day. This phase of the Corporation's activities is capable of very great expansion. TRAINING: Cine Academy of India, Limited, financed and controlled by Cine Finance & Banking Corpora tion of India. Limited, is a Department of the organisation that has been received with enthusiasm not only by National and other leaders of all shades of opinion, but by educationalists and economists everywhere. There is a lamentable shortage of every class of technician and expert required by the Cinema industry in India. So acute is the need for trained technicians that it is not yet possible for the Government and other responsible authorities to introduce legislation for the safety of the public, such as that in operation in other parts of the world. The need for all classes of properly trained technicians in the Cinema industry in India is, indeed, unlimited. It is a trade capable of absorbing in every one of its highly technical branches large numbers of educated unemployed and of paying them a decent wage. This academy will fill a longfelt need and can be made remunerative. BUYING AGENCY AND INSURANCE: Cine & General Agencies, Limited, financed and controlled by Cine Finance & Banking Corporation of India, Limited, will, until the present law concerning insurance in India, has been clarified, place all insurances arising out of the activities of these various companies, and in addition, will act as purchasing agents, contractors, etc., thus effecting considerable savings and consequently ensuring for the Corporation greatly increased profits. PROSPECTS & PROFITS: It will be realised from the above summary that all the undertakings of Cine Finance & Banking Corporation of India. Limited, will be strictly departmentalized, each in the hands of experts, who will be responsible to separate boards of directors specially selected for their usefulness in the respective branches of the industry. The Corporation will be strongly represented on the Boards of all the companies operating the various departments, and by virtue of their voting power will exercise effective supervision and assure a proper co-ordination of all activities. It will be immediately apparent, therefore, that this organisation, profiting by a world experience of the past, is fundamentally based, .from the very outset, on this principle of proper co-ordination. It is a policy proved by long experience the world over, to result in sound and profitable trading. Indeed, it is conservatively estimated that in one Department alone, that of Distribution, the return can be sufficient to pay excellent dividends on the whole share capital of the Corporation. A series of issues of shares will be made to the public in the Departmental Companies when, in each case, the whole of the underwriting will be undertaken by the Corporation, and the Corporation's funds, as and when released from the underwriting contracts, will be available for the Cinema industry and general Banking purposes, the acquisition and control of further Cinema Houses, etc. — safe and profitable investments, especially in view of the fact that every Branch of the undertaking is under its direct control. Incidentally it may be noted that the underwriting commissions thus earned should in themselves be sufficient to assure a profit to the Corporation capable of providing a dividend in its first year's working. Experts will be engaged for all branches of the enterprise. STATUTORY INFORMATION: The minimum subscription on which the Directors may proceed to allotment is fixed at shares of the nominal value of Rs. 5,00,000. Exclusive of over-riding and under-writing commissions, brokerage, etc., the preliminary expenses, inclusive of legal expenses and promoters' remuneration and part consideration for the purchase of the scheme specified in the contract hereinafter mentioned, shall be one-and-a half per centum of the capital of the companies. The qualification of a director other than an alternate director, is the holding in his name of shares of the Corporation of the aggregate value of Rs. 2,500. The remuneration of each director will be such fee, not exceeding Rs. 75 for the chairman and Rs. 50 each for other Directors, as may be fixed by the Directors for every meeting of the Board attended by him, if paid by the meeting, or if paid otherwise, not exceeding Rs. 150 per month for the chairman and Rs. 100 per month for each director, in addition to the travelling and other expenses incurred by him in connection with the business of the Corporation. The management of the Corporation will be vested in S1RARTY, Limited, Merchant Bankers, subject to the supervision of the Board. Every holder of a share of the Company not otherwise disquali (Continued on page 46)