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Distributors worried with Modi's punch
By: Tupaki Desk | 10 Nov 2016 10:29 AM GMT
Undoubtedly Telugu film industry got hit by PM Narendra Modi's decision to ban 1000 and 500 notes. And the most affected among all is distributors only.
Actually these distributors has to pay big advances to producers to own the rights of a particular area and later pay full and final amount before the release. But now that Government limited the depositing of money in bank to 2.5 Lakhs and then distributors can't bring out their stashes of cash and change it to white money.
For that reason, many advances that are to be paid by distributors got stopped and then many producers are considering postponing their films.
Actually these distributors has to pay big advances to producers to own the rights of a particular area and later pay full and final amount before the release. But now that Government limited the depositing of money in bank to 2.5 Lakhs and then distributors can't bring out their stashes of cash and change it to white money.
For that reason, many advances that are to be paid by distributors got stopped and then many producers are considering postponing their films.
