GECs
Banff TV Festival to honour ‘Crash’ director Paul Haggis
MUMBAI: Recognising an individual who exemplifies achievement and advancement in the Canadian entertainment industry, the Banff World Television Festival has announced that director and writer Paul Haggis will be honoured with the first-ever “NBC Universal Canada Award of Distinction.”
This award, presented by NBC Universal Canada, will be bestowed during a special luncheon at the Banff World Television Festival on 12 June. Haggis directed Crash which earlier this year had won the best picture Oscar. Haggis also won an Oscar for his screenplay.
Haggis joins the growing list of esteemed guest speakers confirmed for Banff’s In Conversation With series. In these special one-hour forums, speakers are interviewed one-on-one in front of the Festival audience. The informal conversations draw unique insights from participants and are among the most popular with Banff delegates. Haggis will be at Banff to discuss The Black Donnellys, a show he is currently developing for US broadcaster NBC.
Haggis says, “Banff is a very prestigious event in the entertainment industry and I am truly honoured to be the first recipient of the NBC Universal Canada Award of Distinction.”
Haggis also wrote and produced last year’s best picture Oscar winner Million Dollar Baby becoming the only person in Oscar history to write back-to-back best picture Oscar winning films. He also recently completed writing the next James Bond movie Casino Royale and Clint Eastwood’s next film Flags of Our Fathers. In addition, a small screen version of Crash is being developed for FX.
Banff CEO Robert Montgomery says, “Paul Haggis’ achievements in the industry are remarkable. He is an accomplished filmmaker who is proudly Canadian; he has raised the bar and set industry standards for others to follow. I could not think of anyone else more deserving than him to receive this inaugural award.”
NBC Universal Studios Canada senior VP says, “NBC Universal Canada is especially proud to support and partner with BANFF to honour Mr. Haggis. He exemplifies excellence in our industry and it is a true honour to bestow our first award to him at the Festival.”
The Banff World Television Festival takes place from 11 to 14 June in Banff, Alberta.
GECs
Sahara One reports financial results, notes director exit and business realignment
Muted revenues, steady expenses and strategic adjustments shape company’s current phase
MUMBAI: In a tale where the sands seem to be slipping faster than they can be gathered, Sahara One Media and Entertainment Limited has reported another quarter of wafer-thin income and widening losses, even as a boardroom exit adds to the unease.
The company informed the Bombay Stock Exchange that its board, in a meeting held on April 4, approved its unaudited financial results for the quarter ended September 30, 2025. The numbers paint a stark picture. Total income for the quarter stood at just Rs 0.13 lakh, unchanged sequentially and sharply down from Rs 0.26 lakh a year earlier.
Losses, meanwhile, deepened. The company posted a net loss of Rs 24.16 lakh for the quarter, compared to Rs 18.81 lakh in the June quarter and Rs 39.69 lakh in the same period last year. For the six months ended September 2025, the cumulative loss stood at Rs 39.69 lakh, while the full-year loss for FY25 was reported at Rs 60.72 lakh.
Expenses continued to outweigh income by a wide margin. Total expenses for the quarter came in at Rs 24.30 lakh, led by employee benefit costs of Rs 6.51 lakh and other expenses of Rs 17.78 lakh. Earnings per share remained in the red at Rs (0.11) for the quarter.
The balance sheet reflects a company with significant assets on paper but limited operational momentum. Total assets stood at Rs 23,065.57 lakh as of September 30, 2025, broadly unchanged from March 2025. Equity share capital remained steady at Rs 2,152.50 lakh, while total equity was reported at Rs 18,004.85 lakh.
Cash and cash equivalents saw a modest uptick to Rs 6.75 lakh from Rs 4.68 lakh earlier, supported by a positive operating cash flow of Rs 180.01 lakh for the period.
Yet, beneath these numbers lies a more complex narrative. The company’s auditors flagged their inability to obtain sufficient evidence to form a conclusion on the financial statements, citing lack of access to records. They also raised concerns over the company’s ability to continue as a going concern, pointing to insufficient funds, delayed recoveries, and stalled content investments.
Adding to the governance overhang, the company disclosed that Rana Zia has resigned as whole-time director, effective October 16, 2025, citing other professional commitments. The resignation, noted and accepted by the board, also brings an end to her role across company committees.
Regulatory pressures continue to loom large. The Securities and Exchange Board of India has already initiated penal actions for non-compliance with listing norms, with trading in the company’s shares remaining suspended. There is also a risk of promoter demat accounts being frozen.
Legacy legal issues remain unresolved. A substantial deposit of Rs 694,027.88 thousand linked to the long-running OFCD dispute involving Sahara group entities is still under the purview of the Supreme Court of India. Restrictions on asset disposal continue to weigh on the company’s financial flexibility.
Operationally, challenges persist across multiple fronts. Advances worth Rs 1,92,916 thousand given for film content remain stuck, with delays in project completion and uncertain recoverability. The company’s YouTube channel, despite being operational, has generated no revenue for over three years due to compliance lapses. In a further twist, management has indicated that revenues may have been fraudulently diverted through unauthorised changes to its AdSense account, with a police complaint in the works.
There are also missed revenue opportunities. Television content rights continue to be used by a related party despite the expiry of the licence agreement, with fresh negotiations still underway.
For now, Sahara One Media and Entertainment Limited appears caught between legacy disputes and present-day operational hurdles. As losses linger and governance questions mount, the road to recovery looks less like a sprint and more like a slow trudge through shifting sands.
