‘FFI proposal on film finance to be taken up’

Addressing the issue of film financing and its ties with the I&B Minister Jaipal Reddy on Wednesday announced that a proposal from Los Angeles-based Film Finance Inc, to underwrite directors seeking financial assistance, would be examined by the government.

Reddy said he met Richard Soames of FFI, who proposed to tackle the issue of collateral security by underwriting movie ventures. Directors who seek economic support from banks and financial institutions are often required to produce collateral security — often difficult to come by. An underwriting from a global film financier would make things easier, said Reddy. The proposal, if accepted, he felt, would check the underworld nexus in Bollywood.