Hindi
Indian Film Company commits $32 mn in upcoming projects
MUMBAI: Raghav Bahl-driven Indian Film Company (IFC) is ready to pump in ?20.63 million ($32.12 million) towards its upcoming film projects.
The Aim-listed company will predominantly fund these projects through cash generated by the group from exploitation of film rights. The Group is also evaluating the option of raising debt to fund some of its future investments in film projects.
The company has lined up nine movies to release in FY 2010. It has acquired rights to two films while it will be co-producing the rest.
Meanwhile, riding high on the success of movies like Ghajini and Singh Is Kinng, the company‘s net profit has surged 98.5 per cent to ?3.89 million for the year ended 31 March 2009, as compared to Rs ?1.96 million a year ago.
Revenue stood at ?40.90 million, as against ?11.45 million in FY‘08.
During the year under review, IFC has released eight films (Bhoothnath, Panduranga, Singh Is Kinng, Kidnap, Golmaal Returns, Dil Kabaddi, Ghajini and Little Zizou).
Released in the fag end of the calendar year 2008, Ghajini broke all existing records at the Indian box office to gross ?26.83 million (Rs 1.95 billion) with 1,500 screens. Singh Is Kinng, which was released in August 2008, grossed ?15.14 million (Rs 1.10 billion).
The group also ventured into world cinema with three co-productions; Little Zizou, It‘s a Wonderful Afterlife and Road Movie. International sales agents have been secured already to sell these three films outside of India.
IFC has also acquired the remake rights of the Hollywood film Italian Job from Paramount Studios, and script writing and casting are underway.
A big benchmark for the company was the selling of music rights with defined period contracts, including the music rights to Singh Is Kinng, which were sold for Rs 107 million (?1.47 million).
“Despite the overall gloomy economic environment, the group has been able to deliver good financial results and with a strong slate of films, is poised to expand with a healthy growth rate in the year ending 31 March 2010,” says IFC chairman Shyam Benegal.
IFC held cash balances of ?0.94 million (?3.28 million including the term deposit) and had exploitation rights and investments in films and films under production with an aggregate carrying value of ?52.06 million till 31 March 2009.
At present, with a portfolio comprising 35 films and a library of 54 rights bought exclusively for television syndication, the group is continuing to build on its strategy to develop and expand its library of rights for television syndication in the year under review. The television syndication model entails the sale of limited telecast rights for a limited period to multiple players. This model was extended to the overseas territories of the UK, North America, Asia and Europe.
IFC plans to increase its own production slate. “The group is increasing its focus on mounting its own productions, which are in various stages of scripting, casting, shooting and post-production. The Group will be releasing some of its own productions over the next two years,” Benegal adds.
While talking about competition, Bahl says, “We continue to live in difficult times where the competition is high, talent is scarce and creativity is selective. The group continuously endeavours to select projects that have capacity to entertain and content that attracts audiences and is commercially viable.”
Hindi
New labour codes reshape rules for India’s media & entertainment sector
EY masterclass highlights unified framework, wage redefinition and expanded coverage.
MUMBAI: The new labour codes just rewrote the rulebook for India’s media and entertainment industry because when four old laws become four big codes, even the fine print needs a director’s cut. At the FICCI-EY Media & Entertainment Industry Report launch, EY partners Nirali Goradia and Lakshmi Ranganathan delivered a detailed masterclass on how the labour codes implemented in November 2025 are fundamentally changing the sector. The four consolidated codes Code on Wages, Code on Social Security, Industrial Relations Code, and Occupational Safety, Health and Working Conditions Code have replaced a fragmented set of central and state regulations that existed for decades.
The speakers explained that the new framework brings consistency across all types of establishments and workers. Previously, cine-workers, journalists and other media professionals were governed by separate, narrow laws. Now, definitions have been broadened: “audio-visual worker” now covers everyone involved in film, television, OTT, broadcasting and digital content creation, while “working journalist” extends to digital news platforms.
Key changes include:
- A uniform definition of wages, with at least 50% of total remuneration needing to qualify as wages for calculations like provident fund and gratuity.
- Expanded social security coverage for gig workers, platform workers and project-based freelancers.
- Unified working conditions, safety norms and leave entitlements.
- Simplified compliance through digital filings and a more principle-based approach.
Nirali Goradia emphasised that the codes aim to bring gig workers, freelancers and project-based talent under the social security net, though the exact contribution mechanism for platform workers is still being finalised. She noted that the intent is clear: no worker should be left out of basic protections such as provident fund, ESI, gratuity and safety standards simply because of the nature of their engagement.
Lakshmi Ranganathan highlighted that establishments in the sector must now carefully map their workforce—permanent employees, fixed-term contracts, freelancers and gig workers because different categories attract different obligations. She pointed out that gratuity vesting for journalists remains at three years, but the broader wage definition will impact calculations across the board. Organisations that previously computed contributions on basic salary (often 35-40%) will now need to move to at least 50% of total wages, potentially increasing costs by around 10% on a recurring basis. This change applies retrospectively for gratuity valuation as well, creating immediate balance-sheet implications for many companies.
The panel also discussed how the Occupational Safety, Health and Working Conditions Code has expanded the definition of “manufacturing process” to include digital printing and related activities. This brings more workers under safety and working-condition norms that were previously limited. Additionally, the codes introduce a clearer framework for fixed-term employment contracts, offering organisations flexibility while ensuring such workers receive benefits similar to permanent employees, including gratuity after one year.
One area still evolving is the treatment of platform and gig workers. The Social Security Code recognises this new category, but the exact funding mechanism and contribution structure are awaited. Industry experts expect a dedicated fund where platforms and employers will contribute, from which benefits can be extended to gig workers. Until the schemes are notified, organisations are advised to review their existing contractor and freelancer agreements to assess potential future obligations.
Both partners stressed the need for proactive steps. Companies should:
- Reclassify their workforce based on the new definitions of “employee” and “worker”.
- Review compensation structures to align with the 50 per cent wage threshold.
- Update contracts, especially for project-based and gig engagements.
- Reassess gratuity liabilities and payroll processes.
- Ensure compliance with expanded safety and working-condition requirements.
The speakers noted that while the codes bring much-needed unification and broader coverage, they also demand careful interpretation. The shift from highly prescriptive rules to a more principle-based regime means organisations must build internal frameworks to apply the codes consistently. This is particularly relevant for the media and entertainment sector, where project-based work, freelancers, short-term contracts and gig-style engagements are common.
In an industry that thrives on creativity and agility, the new labour codes are forcing a rewrite of the fine print. What was once a patchwork of rules is now a unified playbook and for media houses, the real plot twist will be how quickly they adapt to keep talent happy, costs manageable and stories flowing. The next few months, as states finalise their rules and schemes are notified, will be critical in determining exactly how this new framework reshapes hiring, compensation and workforce management across the sector.
