Cinevista Ltd Company Summary

Cinevista Ltd Summary

Cinevistas Limited (Previously known as Cinevista Communications Limited) was incorporated in 1993, as partnership firm and was converted into private limited company in May, 1997. Later on , the Company got converted into a public limited company in December, 1999 and the name of the Company was changed to the present one. It is primarily engaged in the business of producing and exhibiting commissioned television programmes, feature films, ad commercials, etc. particularly in Hindi language and regional language content. The Company diversified its business and got into the business of Real Estate. Some of the popular programmes produced by Cinvesta and telecast on various channels are Katha Sagar, Zindagi, Gul Gulshan Gulfam and Junoon.Promoted by Prem Krishen Malhotra and Sunil Mehta, both with a background in Indias film industry to establish, maintain and manage, television and/or radio centres, studios for production of serials and export thereof. Apart from these, the Company has two 100% subsidiaries, Cinevista Global Private Ltd promoted for producing programmes for televsion and Cinevista News International Private Ltd incorporated for producing current affairs and news related programmes. Both the subsidiaries have not yet commenced activities.In Feb 2000 CCL came with a public issue of 25,33,500 equity shares of face value Rs. 10 each consist of a book building portion of 19,00,000 and a fixed price portion of 6,33,500 equity shares. The present issue is for setting up an integrated studio and a web-casting service on the internet, procurement of web rights for TV programmes and movies, overseas production centres and to augment the long term working capital of the company.Currently CCL has 26 different programme formats in various stages of development, setting up of production centres in 2 overseas markets in under progress and it is also in process of structuring 3 strategic alliances in related business.During 2000-01, two new companies namely Cinevista Studios Pvt. Ltd. & Cinevista Eagle Plus Media Pvt. Ltd. were incorporated. While Cinevista Studios Pvt. Ltd. is incorporated to deal in the business of purchase, sale, hire, distribute, etc. production and post production facilities and equipment for production, recording, editing, etc. of feature films, etc., Cinevista Eagle Plus Media Pvt. Ltd. is a joint venture between the CCL and Mr Umesh Mehra for the production of feature films, telefilms, etc. The company has also acquired 99% stake in Video Vista Inc., New Jersey, USA and is engaged in the business of distributing TV programmes of Indian Origin in different parts of the world. This acquisition will help the company to expand its overseas business by licensing of its TV programme library in different parts of the world.The name of the Company was changed from Cinevista Communications Limited to Cinevistaas Limited effective December 20, 2001. In 2002, Company acquired 100% stake in Video Vista Inc., USA to build a strong base in overseas market. Also, Heritage Entertainment Pvt. Ltd. has ceased to be the subsidiary of the Company. A new Company with the name Dynamic Fusion Pvt. Ltd. was formed in 2003 with the majority stake being held by the Holding Company.In year 2005, the Company commenced the telecast of six new programmes viz. Saakshl and Ayushman on Sony Entertainment Television, Saathiya on Sahara TV, Veer and Door Door Doorbeen on Hungama TV and Paalkhi on Zee TV. It released second feature film Gary-Pride & Honour in July, 2004, worldwide. The financial year 2006-07 saw the production of two such successful products produced solely for the Indian N.R.I, settled overseas. Word on the Street & Cut to the Chase saw the Company face new challenges and open fresh vistas for it.