Founded in 2003 by a team of film-loving entrepreneurs, Cinestaan has built a reputation as a digital media platform that produces high-quality content. The company has also raised millions of dollars through a number of angel investor campaigns. They plan to continue to grow their portfolio of projects while also focusing on new areas of development.
Founders
Founded by entrepreneur Rohit Khattar, Cinestaan is a global entertainment platform which has plans to invest in television, film production and online video. It has also joined hands with the British Council and is a part of the Film London initiative. Its international division, which was launched earlier this year, builds an international brand for films with an India connection. It also records the rich history and present of Indian cinema on the Internet. It provides full profile access, news, reviews, photos, videos, and more. It is a one-stop entertainment destination for all things Bollywood 52av.
Cinestaan Entertainment Private Limited, founded by Rohit Khattar, is an entertainment company focusing on film production and distribution. It has joined hands with film-maker Rakeysh Omprakash Mehra to form a three-film deal. Cinestaan is also the organiser of a Storytellers Script Contest in India. This was held in Mumbai and judged by Rajkumar Hirani, Anjum Rajbali, Aamir Khan and many other leading filmmakers. It awarded cash prizes to 10 filmmakers.
Film co-productions
‘The Hungry’, directed by Bornila Chatterjee, is a contemporary adaptation of Shakespeare’s Titus Andronicus, which updates its themes for a global audience. It earned accolades at the Toronto International Film Festival and London Film Festival. It is a macabre fairy tale set in the elite circles of north India. The film was co-produced with Film London.
Cinestaan Film Company has recently hired a couple of execs from Film London. Marina Fuentes, previously head of Spanish sales agent 6 Sales, has been named director of international sales and acquisitions, while Tessa Inkelaar has been promoted to vice president of international development. The company also announced a partnership with Anil Thadani, India’s leading independent distributor.
The company plans to invest in films, television and internet services. It has been funded by Indian tycoon Anand Mahindra. It has also established a relationship with Amazon Prime Video, a leading global provider of video content. The company has two production pipelines, one for Indian audiences and the other geared towards international audiences. It also has a syndication and marketing division.
Digital media platform
Founded by Rohit Khattar and Amit Shyam Khansaheb, Cinestaan is a one-stop shop for all things cinematic. It has a dedicated platform for movies, news, photos, videos and people. It has also branched out into the online world. It has signed a deal with Amazon Prime Video. And it has a long-term alliance with C International Sales.
One of the most interesting features of the site is its “Digital Opportunity Center” which has a number of useful tools to make the process easier for you. It offers detailed data on 3M+ companies and offers a variety of ways to find out about new and old movies. It also has an online store where you can buy movie tickets. In addition, it has a mobile app which is available for iOS and Android. It also has a slick looking website which boasts of the “best of the best” in Indian cinema.
The site has a small but dedicated team of experts who can offer you the latest news about Bollywood. It also has a curated list of the best new releases, reviews, trailers, box office collections, and more.
Angel tax case
During the assessment year, Cinestaan Entertainment Pvt. Ltd., an Indian company, issued shares to its subscribers at a premium. However, it received a minuscule income, compared to its investment. As a result, it incurred tax on the premium it received. In order to avoid such tax, Cinestaan appealed before the Delhi High Court. The court ruled in its favour, and allowed the company to issue its shares without paying tax on the premium received.
In August 2019, the Finance Minister announced that startups would be exempted from Angel Tax, but this exemption only applies to startups that are registered under DPIIT (Department for Promotion of Industry and Internal Trade). As of December 31, 2019, approximately 1,867 startups are exempt from Angel Tax. However, this ruling may extend the exemption to startups that are not registered under DPIIT. The ruling will give relief to a large number of start-ups.
Conclusion
The decision in the Cinestaan case was based on various issues related to share valuation. It addressed the role of the valuer, the objective of valuation provisions, the conditions for applicability of such provisions, and the relevance of hindsight in valuations. In addition, the court made it clear that the valuation is not subject to challenge after the tax assessment is done. This will provide future relief for start-ups and angel investors.
