 Pyramid Saimira's clarification on Kuselan
Published on November 20, 2008 by indiainteracts teamViewed 590 times
Pyramid Saimira had earlier announced to the media that it would compensate for the losses incurred by the producers of the movie 'Kuselan.' The film distributors of North Arcot, Coimbatore, Tiruchy, Thirunelveli Districts have requested Pyramid Saimira to reconsider the decision. Pyramid Saimira has assessed the request and will hand
over the full reimbursement amount to the distributors.
As a first move, Pyramid Saimira has reimbursed the monies to the movie theaters which directly screened 'Kuselan'. The theatre owners and the distributors of the movie for South Arcot, Chengalpet have mutually agreed to solve the issue amicably.
Theatre owners of North Arcot, Coimbatore, Tiruchy, Thirunelveli did not reach an agreement with the Distributors Association and hence the process of reimbursement amount has been delayed .
The company has suffered tremendous loss from the movie 'Kuselan'. Pyramid Saimira understands the risks involved in the movie business and does not hold anyone responsible for the loss.
Although there is no clause stating reimbursement of the monies in the agreement. Pyramid Saimira on humanitarian grounds agreed to the plea of the distributors and theatre owners to give one crore and fifty thousand rupees as their contribution along with the five crores given by the producers.
Pyramid Saimira has agreed to extend the reimbursement to distributors and theatre owners of Karnataka and Andhra despite the producers of the movie voicing their opinion to compensate only in Tamil Nadu.
Pyramid Saimira is a transparent and a responsible company. The Company would like to express its gratitude to the President and office bearers of Tamil Movie Producers Association and the Office bearers of Association of Film distributors and Theatre owners who have offered their full support throughout this turbulent phase. With this, the entire issue relating to the film Kuselan is fully resolved to the satisfaction of all.
There have been plenty of speculations on the company that have been circling in the media, Pyramid Saimira would like to clarify certain information about the company:
1. Saimira is the only International Entertainment company that has a formidable presence in America, Malaysia, Singapore, England, China apart from India.
2. In America, Pyramid Saimira has a business operations such as Theatres, Restaurants, FM and print media.
3. Saimira has 745 of Theatres under its banner with a seating capacity of 469000.
4. Pyramid Saimira company has invested over Rs.579 Crores in movies from 2005 to 2008.
5. Pyramid Saimira is the only company which operates in multitude of segments of The entertainment industry like Film production administration, Audio & Video content, Television Serials, Food Courts, Radio , DTH , Animation and print media.
6. Pyramid Saimira is the only Company which has signed Cultural exchange agreement with the Government of China.
Pyramid Saimra has strategically invested in various business ventures and remains stable by the unpredictable circumstances of the film industry.
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