In addition to the many associations in south Indian cinema, a South Indian Film Financiers Association was formed on Wednesday. This association aims to resolve issues between financiers and producers, and help release films without delays and other issues.
The association’s president is Tirupur Subramaniam, one of the biggest distributors of Tamil films. The vice president is Chandraprakash Jain. Anbu Chezhiyan and Arun Pandian are the treasurer and secretary respectively. During the launch of the association, president Subramaniam said that they will work to raise the standard of the film industry in a fair way.
It is said that close to 20 financiers are part of the association, including RB Chowdry, Jeshwanth Pandari, Pankaj Mehta, Abirami Ramanathan, Azhagar, Ram, Abinesh Elangovan, DC Ilangovan, and Seenu.
Highlights of the Financiers’ Association
The association aims to help films which don’t release after completion due to various reasons, and films which are stopped in production stages. As per its rules, actors and directors must complete films that they have committed to and have received an advance amount for. Actors must avoid delays because of their schedule, which leads to the producers suffering from a debt. It was added that if the rules were violated, the financier of the person’s next film will not cooperate with them.
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Also, a producer who first receives an amount from one financier and later from someone else, should submit an approval letter from the previous financier before receiving the new amount. A decision will be taken accordingly if a producer leaves a film incomplete or unreleased and moves on to the next project.
Action will also be taken against producers who blame financiers when they don’t make the money that was invested. The association further assured that they will have a friendly relationship with Producers Council, Distributors Council and Theater Owners Association, and strive for the growth of film industry.