FilmIndia (1939)

red by Section 92 (2) of the Indian Companies Act, VII of 1913). 3ITRAPAT, LIMITED. ompanies Act). mineering of individual capitalist or capitalists but will direct the flow of huge profits now going into their coffers to the pockets of the middle-class people, who, it is expected, will pre-eminently patronise this Company. The Company has very good prospects of success and it hopes to be able to declare handsome dividends if the requisite capital comes forth at an early date. The Signatories to the Memorandum of Association are people of business experience and the Board of Directorate is so constituted that it represents a co-ordinated body of status, influence and artistic as well as literary talents. The Company has been fortunate in securing the advice and guidance of Prof. V. G. Kale who has consented to be the Chairman of the Board of Directors. Mr. R. N. Abhyankar, B.A., LL.B., the well-known leading businessman of Maharashtra, has consented to become a Director of Messrs. Huns Pictures, Ltd., who are the Managing Agents of the Company. Mr. Abhyankar is associated with most of the leading industrial concerns in Western India, some of which he has himself sponsored and fostered so well. His association with the management will undoubtedly prove extremely helpful. Principal P. K. Atre will be in charge of the literary side of the Company's production. Principal Atre has, by this time, established himself as one of ten foremost playwrights and screen-writers of India and his pictures have invariably been record-breaking box-office hits and his stories will henceforward be exclusively given to the Company. The incorporation of Messrs. Baburao Pendharkar, Vinayak Karnatki and Pandurang Naik of Huns Pictures (Kolhapur), in the management will be welcomed as a priceless asset to the Company and the success of the Company's productions right from the day of inception will be a guaranteed fact. There are no two opinions about the artistic endowments and potentialities of these three artists, viz., Baburao Pendharkar as the greatest character actor and organiser of film concerns for the last twenty years. Master Vinayak as one of the ace-directors of India and as the most beloved beauideal of all cine-fans, and Pandurang Naik as a wizard camera-man. These three artists have so far given ten glorious pictures during the last three years and a half like 'Chhaya,' 'Dharmaveer,' 'Brahmachari,' 'Devata' and 'Brandichi Batli,' some of which have done record business and have made the names of this trio household words in India. Minimum Subscription: — The Articles provide that the minimum subscription on which the Directors may proceed to allotment is Rs. 2,00,000. Promotion Fees: — No Promotion fees are payable to the promoters. Preliminary Expenses: — The estimated amount of preliminary expenses (excluding commission and brokerage on shares) is fixed at Rs. 10,000. Commission on Sale of Shares: — The Articles provide that the commission payable for procuring subscribers to shares shall not be more than 5 per cent, of the nominal value of the shares subscribed as shall be decided by the Directors. Underwriting Commission: — The underwriting commission payable to the underwriters is 5 per cent, in respect of the face value of Ordi THE NAVAYUG CHITRAPAT LIMITED offers the following programme of Pictures for the year 1940-41: — (1) MATSYAGANDHA (My thological) by V. S. Khandekar, (2) LAPANDAV (Social) by Principal Atre, (3) BRAHMAGHOTALA (So cial) by Principal Atre, (4) . POO J A (Social) by V. S. Khandekar, All of these pictures will be supported by the strongest possible cast, which will include stars of all India fame. nary as well as Preference Shares underwritten by them. Brokerage: — Brokerage at the rate of Re. 1 per share, whether Preference or Ordinary, will be paid by the Company on allotment made in respect of applications bearing the stamp of any recognised broker or brokers. Qualification of Directors: — The qualification of a Director other than Ex-Officio Director shall be the holding of shares in the Company of the aggregate nominal value of Rs. 5,000/ in the case of first Directors who serve on the Board during the first year from the incorporation of the Company and of Rs. 10,000/ in the case of subsequent Directors. Interest of Directors: — No Directors other than the Ex-Officio Directors who are directors of Messrs. The Huns Pictures, Ltd., the Managing Agents of the Company are in any way interested in the promotion of the Company except as mentioned above. Management: — Subject to the supervision and control of the Board of Directors, the Managing Agents shall manage the business and affairs of the Company in accordance with the provisions of the Memorandum and Articles of Association and also of the Indian Companies Act. Managing Agents: — Messrs. The Huns Pictures Ltd. (A private Company registered under the Indian Companies Act) have been appointed Managing Agents of the Company for a period of 20 years from the date of registration of the Company, on the belowmentioned terms of remuneration: — (a) A fixed allowance of Rs. 1,500 only per month; and (b) a commission of 25 per cent, of the annual net profits of the Company, provided when such profits are sufficient to pay a dividend at 6 per cent, to Ordinary and Preference share-holders; or (c) a commission of 35 per cent, of the annual net profits of the Company, provided when such profits are sufficient to pay a dividend at 9 per cent, to Ordinary share-holders and at 6 per cent, to Preference share-holders; or, (d) a commission of 40 per cent, of the annual net profits of the Company provided when such profits are sufficient to pay a dividend at 12 per cent, to Ordinary share-holders and at 6 per cent, to Preference share-holders. (i) For the purpose of Subclause (b), (c) and (d) above. "Net profits" means the profits of the Company calculated after allowing for all usual working expenses, interest on loans and advances, repairs and outgoings, depreciation, Managing Agents' allowance, bounties or subsidies received from Government or other public bodies, profits by way of premium on shares sold, profits on sale-proceeds of forfeited shares, or profits from sale of the whole or part of the undertaking of the Company, but without any deduction in respect of income-tax or super-tax or any other tax or duty on income or revenue or for expenditure on capital account or on account of any sum which may be set aside in each year out of the profits for reserve or any other special fund. (ii) The said remuneration payable to the said Huns Pictures, Ltd., shall be exclusive of and shall not include any expenses, actual or incidental, incurred for the management of the Company's Office and the conduct of its business. (iii) The said Huns Pictures. Ltd., as such Managing Agents