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Multiplex operator PVR on Wednesday said it has received the nod from its shareholders for the scheme of merger with rival Inox Leisure. The leading cinema exhibitor convened a meeting of its shareholders on Tuesday following the directions of the Mumbai bench of the National Company Law Tribunal (NCLT) The proposal was passed by over 99 per cent of the number of valid votes cast, said the scrutiniser's report of the meeting shared by PVR. In June this year, both PVR and Inox Leisure said they had received clearance for their merger from bourses NSE and BSE. On March 27, PVR and Inox Leisure announced the merger to create the largest multiplex chain in the country with a network of more than 1,500 screens to unlock the opportunities in tier III, IV and V cities, besides in the developed markets. The combined entity will be named PVR INOX Ltd with the branding of existing screens to continue as PVR and INOX. New cinemas opened post the merger will be branded as PVR INOX, the compa
Veteran actor Asha Parekh will be honoured with the Dadasaheb Phalke award for 2020, the highest recognition in the field of Indian cinema, Union Minister for Information and Broadcasting Anurag Thakur said on Tuesday. The 79-year-old actor, best known for films such as "Dil Deke Dekho", "Kati Patang", "Teesri Manzil", and "Caravan", is considered one of the most influential actresses of all time in Hindi cinema. Also a director and producer, Parekh had helmed the acclaimed TV drama "Kora Kagaz" in the late 1990s. Last year, the Dadasaheb Phalke Award for 2019 was conferred on Rajinikanth.
Multiplex Association of India (MAI) on Tuesday said that the National Cinema Day, which was earlier scheduled to be celebrated on September 16, will now be held on September 23. Over 4,000 screens at multiplexes from across the country, including PVR, INOX, Cinepolis, Carnival, and Delite, have teamed up to offer "celebratory admission price" of Rs 75 to mark the National Cinema Day. The MAI said the commemoration of the National Cinema Day was postponed "on request from various stakeholders and in order to maximize participation". "The Multiplex Association of India (MAI) and Cinemas across India, welcome moviegoers to spend a day at the movies with a celebratory admission price of Rs 75 to mark National Cinema Day. "The National Cinema Day was previously announced to be held on 16th September, however, on request from various stakeholders and in order to maximize participation, it would now be held on 23rd September," the national multiplex trade body said in a statement. The .