As financial institutions and banks are reluctant to finance film industry, South Indian Superstar Kamal Haasan fears that this may give the underworld a great chance to finance films.
Speaking at the curtain raiser of the FICCI Media and Entertainment Business Conclave 2011, the actor who is also the chairperson of the conclave, raised a concern about the film industry suffering from lack of funds due to relectance of financial institutions to fund the film industry.
He further stated that most of the banks and other lenders are not happy financing the film industries because of a irregular and poor repayment track record. This has resulted in film producers looking for other sources to help them financially, which includes both legal and illegal means of funding a movie.
Kamal Haasan further clarified that the conclave will be discussing this issue along with other important issues like copyright, reduction in entertainment tax and Competition Commission’s regulations. The conclave is slated to be held on December 1st and 2nd at Chennai.