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“Corporatisation has not succeeded in the entertainment sector” : producer Asit Modi

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In a short span of four years, Asit Modi has carved a niche for himself as a producer of successful sitcoms. 

Modi, who started off as an independent TV producer with Hum Sab Ek Hain on Sony, went on to produce Yeh Duniya Hai Rangeen for the same channel. He has recently come up with Meri Biwi Wonderful, an Indian adaptation of the hugely successful 1960s series Bewitched.

Meri Biwi Wonderful carries a novelty factor in that it combines comedy with elements of abracadabra and the supernatural.In a tete-a-tete with indiantelevision.com correspondent Amar, Modi comes across as a man who has a lot of passion and love for his work. Excerpts –

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How did you start off as producer?
I have been involved with theatre in almost all capacities since college. In 1988, it struck me that producing TV software could be a viable business. After that, I starting learning the nuances of the television medium and after three years was able to produce my first serial in Gujarati. In 1995, I co-produced Kabhi Yeh Kabhi Woh for DD Metro and later co-produced Rajani starring the late Priya Tendulkar for the same channel. Hum Sab Ek Hain was my first independent work as producer and it came on air in 1998.
 
Which subjects appeal to you? You seem to be a sitcom specialist.
(Laughs) No, no. In fact, I would love to do varied subjects. It’s just that after the success of Hum Sab Ek Hain, the channel started feeling more confident about entrusting comedies to me. But I would love to work on other genres.
 
“In the wake of growing competition one needs to be all the more alert to changing viewer preferences”
 
How was ‘Meri Biwi Wonderful’ conceived?
Meri Biwi Wonderful, as you know, is based on the popular comedy Bewitched that was produced by Columbia Tristar in the mid sixties. The concept was given to me by the channel and I was asked if the same could be adapted in the Indian context. After working on the concept, I felt confident that it would indeed succeed with our viewers. See, it has a big novelty factor in it. For the first time on Indian TV, a sitcom is laced with magic and the supernatural.

In fact, I am proud to be associated with a Columbia Tristar production even if it is in an indirect way.

 
Has the recent trend of dailies made it difficult for producers like you to get good weekly slots?
Yes, I would feel so. Ideally, comedies work best as weeklies. But personally I am confident of making a good daily sitcom if I get a chance. I have, in fact, carefully studied most daily sitcoms to analyse why most of them have not worked.

I have also acquired the rights of over 1,500 stories written by a veteran writer Tarak Mehta for Chitralekha. I hope to adapt them into successful TV serials some day.

 
All your programmes have been on Sony. Is there any specific reason behind it?
No. In fact, I would love to work with all the channels. It’s just that I have a great rapport with Sony. They have shown tremendous faith in me and I feel all the more motivated to live up to that faith.
 
Do you find channel EPs overbearing in their attitude nowadays?
Well, I would say they are more involved in all respects. We need to understand that in the wake of growing competition one needs to be all the more alert to changing viewer preferences. There have been occasions when I have had to re shoot a few scenes but I have taken it positively.
 
What are your sources of funding?
It’s my own money and the revenues from my earlier serials, which I plough back into the business.
 
Who are your favourite directors on TV?
B P Singh, Gautam Adhikari and Raju Parsekar are among my favourite directors. I love thrillers and would love to create a riveting thriller myself some day. All of B P Singh’s work is very crisp and stylishly shot. The man’s passion comes out in all his serials.
 
“As long as a comedy is able to make people forget their worries and cheer them up, it’s commendable”
 
Which are the areas you are personally involved with as producer?
I’m involved with each and every area. Right from the story to the casting to the actual execution, I contribute in every possible way. I produce what I love and leave no stone unturned in ensuring that my serials conform to the highest quality. For Yeh Duniya Hai Rangeen, I had created a sprawling housing complex at MBC studio to give a realistic setting.
 
Don’t you have any plans for Neela Telefilms going corporate?
I do not have a plan as such. See, corporatisation has not been very successful in the entertainment sector. Because once you make your production unit a manufacturing factory, your individual involvement and passion that is so important for a quality product gets diluted. Of course, I want to expand and take up more serials but I would never undertake such volumes that I cannot bring out without my whole-hearted involvement going into it.
 
Of late, do you feel there has been a surfeit of slapstick on TV?
Well, I have never believed in categorisation of comedies. I only believe that there is something called good comedy and something called bad comedy. As long as a comedy is able to make people forget their worries and cheer them up, it’s commendable.
 
Would you have produced ‘Raamkhilawaan CM & Family’?
Well, that’s a difficult question to answer as it is very hypothetical. See, even in comedies one has to make sure that there is something to hook the women audiences. As far as a political satire goes, on a concept level it runs the risk of alienating the women viewers. But when I saw a couple of episodes of Raamkhilawaan I found it exciting overall.

My decision on whether or not to produce a sitcom like Raamkhilawaan would have depended on several contingent factors.

 
“Once you understand the writer – his mind, his strengths and weaknesses, it’s becomes relatively easy to get out of him what you are looking for”
 
Who are your favourite writers?
I have no favourites as such. I believe writing is a tough job and most writers who are in the business are reasonably good and talented. It’s more a question of striking the right understanding with them, which happens over a period of time. Moreover, producers who are really passionate about their stories have their own take on it. I feel once you understand the writer – his mind, his strengths and weaknesses, it’s becomes relatively easy to get out of him what you are looking for.
 
Which are the projects you have in the pipeline?
I have always taken up projects selectively. Right now, I’m working on two other projects. One is a social drama, while the other is a thriller. But both of them are at the concept level right now.
 
It must be tough financially for an individual producer with just one serial on air. Do you have some other business that keeps you financially stable?
Yeah, but TV is my passion and I’m obsessed with it 24 hours of the day. The only other business I would like to start some day is setting up a restaurant because good food is a major weakness for me.
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Sahara One reports financial results, notes director exit and business realignment

Muted revenues, steady expenses and strategic adjustments shape company’s current phase

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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.

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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.

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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.

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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.

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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.

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