Movies

Pyramid Saimira smells foul play in Sebi letter

MUMBAI

: Drama followed drama as shares of theatre chain company Pyramid Saimira Theatre Ltd (PSTL) got badly battered, closing Tuesday 9.94 per cent down at Rs 61.15 on the BSE.

Alleging that a letter issued about its open offer by market regulator Sebi (Securities


and Exchange Board of India) has been forged, PSTL has called for an investigation into the whole issue.

"Sebi confirmed to the company that they have not issued any such letter," PSTL said in a statement.


PSTL said in a statement issued to press that the competitors and big business interests are behind the constant hammering of its share price, thus creating panic among its investors.


"We have asked Sebi, BSE, NSE and police to trace the whereabouts of the letter. The CBI will also be included since there is evidence that a government‘s letter head has been forged by concerned parties," said PSTL.


In the last few days, the company‘s scrip was active, on news of Sebi asking the company to go for an open offer, which the company denied on Monday. Early Tuesday morning, PSTL promoter, chairman and MD PS Saminathan said the company had received a letter from Sebi, asking to make an open offer to buy 20 per cent in the company at Rs 250 per share within 14 days.


Later in the day, the company said the open offer letter was forged and that Sebi confirmed the same to them.






In October, Saminathan bought a 25 per cent stake in the company from two promoters - NC Ravichandran and Nirmal Kotecha - for about Rs 1.4 billion at Rs 200 per share. As a result, Saminathan‘s personal holding in PSTL reached up to 46.8 per cent or 13,258,575 shares of the total paid up capital. The market price of PSTL was Rs 60 per share at that time.


Saminathan called for an investigation, saying the company‘s price counter since June 2008 did not reflect its fundamentals.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/26/sachin.jpg?itok=dtD-NTop
Sachin: A Billion Dreams....For Staunch Sachin fans.

Films on sports did not work with the Indian audience for a long time. If at all some producers dared make a film, it would be mainly on cricket. Of the dozens of films made on sports, less than half a dozen have worked while a couple of others, like Iqbal and Budhia Singh: Born To Run, earned...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/24/PURI.jpg?itok=JgCgwt9d
Om Puri Foundation unveiled in Cannes to help arts, farmers

The Om Puri Foundation has been unveiled today at the 70th Cannes Film Festival to carry forward his legacy and the high standards set by him as an actor on films, television and the theater.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/22/bhaubali2.jpg?itok=30z3Zmp4
Bahubali continues to rule the box office as it pushes aside others in third week

The fact that films and cricket remain its dominant entertainers on television was evident when the Zee TV premiere of Dangal on 21 May and the final of the IPL T20 on Sony Max took the toll at the box office. Last Friday saw the release of two totally different genre films - Hindi Medium and Half...

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/22/cannes.jpg?itok=DWBPFQ4q
Cannes delegates apprised of opportunities in Indian film industry

India has invited some masters of world cinema to conduct master classes and workshops in Film Bazaar at the International Film Festival of India in Goa in November and visit different locations in India.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/19/hindi.jpg?itok=pjMi1Kq1
Hindi Medium....Fun in parts

Hindi Medium is meant to be a satire on the education system as it has evolved in India lately. Just about every institution likes to add the word ‘International’ to its name and claim to be affiliated to a system of education somewhere in the West.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/19/Shiv%20Relan_0.jpg?itok=MX4mj9oI
Multi-entertainment channel broadens horizon by adding 'Movies' & 'Buy' options

MUMBAI: The Indian Movie Channel (TIMC), a multi-entertainment channel, is now all set to broaden its horizon by adding two interesting features, brand new segments – TIMC Movies and BUY option. The brand new features on the TIMC website presents users with an engaging experience with enhanced BUY...

Movies Movies On Mutiple Platforms
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/19/Maharaja%20Duleep.jpg?itok=AdpvrGOf
Special screening of Maharaja Duleep Hollywood biopic at Cannes

NEW DELHI: Even though no Indian feature film has been selected for the 70th Festival de Cannes this year, an award-winning historic film biopic on the poignant life story of the last King of Punjab – Maharajah Duleep Singh – also known as The Black Prince -- will be screened at a special...

Movies International
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/17/shemaarooo.jpg?itok=eH_QW2Zc
Vkaao & Shemaroo to re-release cult classic 'Namak Halaal' in theatres

Vkaao, India’s first ever ‘theatre-on-demand’ service associates with Shemaroo ShowTime – a sub-brand of Shemaroo Entertainment Ltd that deals in screening of iconic block buster films on big screens.

Movies Hindi
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/05/13/iaac1.jpg?itok=MwmUUhjY
NY Indian Filmfest: 'Mukti Bhawan' is best feature, short on Kejriwal is best docu

The Hindi film 'Mukti Bhawan' (Hotel Salvation) by Shubhashish Bhutiani on treatment of senior citizens has won the best film award at the 17th annual New York Indian Film Festival.

Movies Hindi

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories