Aussie firm to launch film fund

Written by Mona Mehta | Mumbai, Jan 28 | Updated: Jan 29 2008, 07:31am hrs
Australian publicly listed investment company, Charter Pacific Corporation Ltd - owners of Bollywood.tv - is launching a film fund in India called Greenlight to finance Indian movies in April 2008. Nigel Glynn-Davies, CEO, Charter Pacific Corporation Ltd told FE, Greenlight fund will function as an Australian film tax relief fund whereby 40% returns will be provided to Indian production houses on any film being shown in Australia.

For the purpose, we are seeking production partners having a good script and production suitable for Australia. Our initial plans would be to invest around 20 million Australian dollars and open-ended investments. Bollywood tv is the largest UK-based online network to host a comprehensive and high quality portfolio of popular South Asian entertainment, including movies, clips, dramas, stage plays and music.

It aims to provide 10 million plus viewers with choice, affordability, control and convenience. It has tied up with studios like UTV, Adlabs, Sony Pictures Entertainment and Venus to stream films, trailers and special clips.