De Monetisation starts working : Bollywood Producer Calls Off Meeting!
Mumbai, Nov 09:Government of India and RBI rolling back Rs. 500 and Rs. 1000 notes from the market will sure have a big effect on cinema industry. After real estate market, many agree with a fact that film industry is also flushed with loads of black money dumped from politicians and other businessmen.
As per a buzz in film circles, one of the star producers who was busy till the other day with release activities for one of his upcoming film called off all the meetings with media and buyers scheduled for today. With 500 and 1000 notes off from legal tender, he was reportedly alarmed with the situation. Apparently, buyers have shown zero interest on this flick due to certain reasons. So, the hefty producer decided to go on risk basis with own release.
With 500 and 1000 notes no more valued, one has to wait and see how will he be paying for the theater rents and advances? May be that is the reason, he called of all the meetings very lately. Besides low buzz and high investment made on this flick, the producer has many reasons to worry with Modi effect.