Govt initiates steps to help Hindustan Photo Films

NEW DELHI: Hindustan Photo Films Manufacturing which has for long suffered as being on the list of sick industries is one of the six companies to be given the minimum public shareholding of 10 per cent requirement under a proposal accepted by the Union Cabinet.

The Cabinet Committee on Economic Affairs has approved creation of the Special National Investment Fund for the specific objective of meeting the minimum public shareholding of 10 per cent requirement in six Central Public Sector Enterprises (CPSEs).

Hindustan Photo Films has for years been responsible for supplying raw stock to filmmakers.

Since these Companies were not financially sound, it was found difficult to meet the minimum public shareholding by following SEBI approved methods. However, government was keen to comply with the requirement in all government companies. The Department of Disinvestment discussed the matter with SEBI and has proposed to meet the minimum public shareholding in the above six Companies.

The salient features of the fund are:

(i) The number of shares that is required to make the six companies compliant with the minimum public shareholding will be transferred to the Special National Investment Fund out of government of India shareholding on irrevocable basis without any consideration.

(ii) The Fund will be managed by independent professional fund managers.

(iii) The Fund will sell the shares within a period of five years.

(iv) The funds realised from the sale of shares would be used for social sector schemes of the government.

(v) The modalities of the sale of shares in the fund would be decided by the existing EGoM.

Under the Securities Contracts (Regulations) (Second Amendment) Rules 2010 of 9 August 2010, all government companies are required to have at least 10 per cent public shareholding and where public shareholding is less than 10 per cent, the companies were required to comply with this condition within a period of three years by following methods permitted by SEBI for this purpose.

Latest Reads
Zee TV leads GEC urban in BARC week 44

Zee TV that was on the fourth position in the previous week climbed to the second position in the Hindi (U+R) genre in Broadcast Audience Research Council (BARC) data for week 44 of 2018.

Television TV Channels Viewership
Anushka Sharma joins hands with Discovery to promote Tiger Conservation Movement

Leading Bollywood actress Anushka Sharma has joined hands with to promote a global awareness movement to save tigers from extinction.

Television TV Channels Factual @ Discovery
Shemaroo Entertainment brings back the Golden Era of Nimmiji

Shemaroo Entertainment’s retro music channel Filmi Gaane launched a compilation of 35 songs of 1950’s veteran actress Nimmi by the name “SUPERHITS OF NIMMI - The Vintage Beauty”.

Television TV Channels Music and Youth
Star India publishes RIO as per TRAI tariff order

After Supreme Court of India gave the verdict in favour of Telecom Regulatory authority of India (TRAI) in the tariff order case.

Television TV Channels GECs and CNBC-TV18 break new ground with launch of educational web series — Mutual Funds Simplified, the premium financial news digital platform, and CNBC-TV18, India’s No. 1 business new channel, will launch a new digital series named “Mutual Funds Simplified” on November 13, 2018.

Television TV Channels News Broadcasting
Network18 Digital elevates Ranadeep Chakravarty as marketing head

Network18 Digital, the digital arm of Network18, announced the elevation of Ranadeep Chakravarty to marketing head of Firstpost, News18 and

Television TV Channels People
TiVo Renews Personalized Content Discovery Platform Agreement with Foxtel

SINGAPORE: TiVo Corporation (NASDAQ: TIVO), a global leader in entertainment technology and audience insights, today announced that Foxtel, Australia’s leading subscription-TV platform, has renewed its license to TiVo’s Search and Recommendation services and will have access to TiVo’s Personalized...

Television TV Channels GECs
Regional becoming the focus for festive advertising

The last quarter of the year is the best season for everyone. The festive rush not only excites consumers but even brands and advertisers. Television viewership increases and the overall growth in advertising also witnesses an uptake during the festive season.

Television TV Channels Regional
TVision technology will complement BARC India’s data: Yan Liu

Star TV has partnered with TVision, a company which measure actual eyes on screen attention providing advertisers, agencies and television networks with the second-by-second data required to understand the effectiveness of television advertising and programming.

Television TV Channels Viewership

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories