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MUMBAI:
Moving Picture Company India Ltd has entered into a joint
venture with Movie Makers International (MMI), a proprietary
firm of Dinesh Bansal, to produce three fiction serials.
Moving
Pictures has decided to issue 2, 50,000 shares on preferential
basis to Bansal.
A memorandum of understanding (MoU) has been signed by the
two companies as per which the preferential issue is being
made against a value consideration of Rs 11.2 million weighted
average for one serial.
Moving
Picture will propose to issue 2, 50,000 equity shares of the
company as valued consideration for each serial as and when
the second and third serials are allocated to the joint venture.
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