FilmIndia (1939)

(A copy of this Prospectus has heen filed with the Registrar of Companies, A*p«** 4 THE NAVAYL AUTHORISED CAPITAL Rs. 25,00,000 (Twenty-five Lacs). DIVIDED INTO 15,000 Ordinary Shares of Rs. 100 each; and 10,000 Six per cent. Redeemable Preference Shares of Rs. 100 each. PRESENT ISSUE Rs. 10 LACS 6,000 Ordinary Shares of Rs. 100 each, and 4,000 Redeemable Preference Shares of Rs. 100 each, bearing Six per cent, fixed cumulative preferential dividend per annum without any further right to participate in profits and liable to be redeemed at the option of the Company in the manner hereinafter mentioned. Out of the above issue the Directors of the Company, Managing Agents, their friends, distributors and Associates have agreed to take up shares of the face value of Rs. 2,00,000. The remaining shares are offered for public subscription. The amount payable in respect of both the Ordinary and Preference shares is as follows: — (a) On application Rs. 25 per share; (b) On allotment Rs. 25 per share; and (c) the balance of Rs. 50 as and when called up, provided that the first call of Rs. 25 shall not be made before the expiry of three months from the date of allotment, and the second call of Rs. 25 shall not be made before the expiry of six months from the date of allotment. The Preference Shares are redeemable as the Directors may deem necessary at any time after ten years from the date of incorporation of the Company (i. e., 28th October, 1939) on six months' previous notice being given as mentioned in the Memorandum of Association. Board of Directors: Prof. V. G. KALE, M.A„ Ex-member, Indian Tariff Board and the Council of State; Chairman, the Bank of Maharashtra Ltd.; The Maharashtra Industrial Instruments Ltd.; Vice-Chairman, the Brihan Maharashtra Sugar Syndicate, Ltd.; Director, the Commonwealth Assurance Co.. Ltd.; the Bombay Provincial Co-operative Bank, Ltd.; the Mysore Silk Filatures, Ltd.; and the Poona District Co-operative Land Mortgage Bank, Ltd.; President, the Maharatta Chamber of Commerce and Industries, Poona 4. (Chairman). Rao Bahadur V. L. THUBE, M.L.A., Contractor; President, Suburban Municipality, Poona. Sardar Jagannath Maharaj Pandit, Ex-Member, Council of State; Director, B. M. Sugar Syndicate, Ltd.; Chairman, Trust of India Assurance Co., Ltd., Poona. Rao Bahadur G. B. KALE, J.P.. Asst. Engineer, P.W.D. (Retired), Poona. G. V. SALVEKAR, Esq., B.A., Proprietor, Sardar Griha. Bombay; Director, Maharashtra Industrial Investments, Ltd., B. M. Sugar Syndicate, Ltd., and Southern Knitting works, etc. B. B. Walvekar, Esq., M.LA., Ex-President, Poona City Municipality; Director, Bharat Industrial Bank. Ltd., Poona. A. V. RANADE, Esq , Contractor, Deccan Gymkhana, Poona. Principal P. K. ATRE, B.A., B.T., T.D. (London), Ex-Officio ; Chairman, Standing Committee. Poona City Municipality, Poona. BABURAO PENDHARKAR, Esq.. (Ex-Officio) ; Cine-artist, Kolhapur. Bankers: (Proposed) The Central Bank of India, Ltd.. Bombay. The Bank of India, Ltd., Bombay and Poona. The Bank of Maharashtra, Ltd., Bombay and Poona. The Presidency Industrial Bank, Ltd., Poona. 1. 2. 3. 4. Auditors: 1. G. D. Apte, Esq.. B.A., G.D.A., Registered Accountant, Laxmi Road, Poona. 2. Messrs Kulkarni & Khanolkar, Registered Accountants, Bombay. 3. Messrs. B. C. Abhyankar & Co., Registered Accountants, Bombay. Solicitors: Messrs. Divekar & Co., Fort, Bombay. Managing Agents: Messrs. the Huns Pictures, Ltd., 980, Sadashiv Peth (Laxmi Road). Poona 2. Secretary: S. R. Rajaguru, Esqr., 980, Sadashiv Peth (Laxmi Road), Poona 2. Registered Office: "Commonwealth Building," Laxmi Road, Poona 2. (Registered un Objects: — The Company has been formed for the objects mentioned in detail in the Memorandum of Association and particularly for the purpose of carrying on the business of producing, financial purchasing, selling, hiring or exhibiting cinema films of all descriptions. Future Prospects: — The Cinema Industry has progressed with rapid strides during the last twenty-five years and has now come to occupy a prominent position among the National Industries of this country. More than twenty crores of rupees have been invested in this industry. About 40,000 persons are employed in the actual production work and there are over 700 cinema houses spread all over the country. These figures clearly show that the industry is steadily growing and it has undoubtedly a great future before it. "It is the eighth largest industry in India," as His Excellency Sir Roger Lumley, the Governor of Bombay, said on the occasion of the inauguration of the Silver Jubilee Exhibition, "one which had already served and is bound to serve still more, to support and call into being other industries also, which in their turn find employment for many thousands of people and provide a useful channel for investment." At present most of the producing concerns in India are purely proprietary who do not often possess their own capital but carry on business with money borrowed from capitalists at an exhorbitant rate of interest. There are also other handicaps which they have to labour under as a consequence of this arrangement. None the less, their concerns seem to go on thriving, and yet the lion's share of profit goes straight to the capitalists. A case in point is that of the record-breaking popular picture "BRAHMACHARI," by Principal Atre which was produced by Huns Pictures at a cost of about Rs. 80,000 and is reported to have made over 200% net profit in a year's time. That there is such wide scope for profit-making in this field is clear from the fact that the capitalists and businessmen, who have little appreciation for art and its educating and ennobling effects, are rushing into this industry, with the result that the artistic and humane outlook of this industry has tremendously suffered and the Indian picture is getting hopelessly superficial and commercialized. With a view to broaden the narrowly commercial outlook of this industry and to purify its present technique and methods, so as to put it on a more dignified pedestal the "Navayug Chitrapat, Ltd.." has been formed. A public limited concern of this type has decidedly great advantages over the proprietary or private limited concerns and will not only put a check to profiteering and do