financial losses Archives - Vizag One https://www.vizagone.com/tag/financial-losses/ Visakhapatnam - City of Destiny Sat, 28 Sep 2024 02:52:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://www.vizagone.com/wp-content/uploads/2023/11/cropped-vizagone-logo-500x500-jpg-32x32.jpg financial losses Archives - Vizag One https://www.vizagone.com/tag/financial-losses/ 32 32 The Center’s Steps Towards a Permanent Solution for Vizag Steel Plant https://www.vizagone.com/news/the-centers-steps-towards-a-permanent-solution-for-vizag-steel-plant/ https://www.vizagone.com/news/the-centers-steps-towards-a-permanent-solution-for-vizag-steel-plant/#respond Sat, 28 Sep 2024 02:52:18 +0000 https://www.vizagone.com/?p=29423 The Center's efforts to address the financial woes of the Vizag Steel Plant through a merger with SAIL reflect a strategic approach towards sustainability and long-term viability.

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]]> The Center is taking significant steps towards finding a lasting solution to the financial issues plaguing the Vizag Steel Plant. In a move to ensure the survival of the struggling plant, discussions are underway for its merger with the Steel Authority of India Limited (SAIL).

Recent meetings between key stakeholders, including the chairmen of SAIL and the National Mineral Development Corporation, along with Union Minister of State for Steel Bhupathi Raju Srinivas Verma, have shed light on the potential merger. Considerations have been made to sell the plant’s land to NMDC and explore bank loans to support the transition.

Additionally, talks have been held with the State Bank of India regarding the Vizag Steel Plant’s future. Plans are in place to sell a portion of the plant’s land for a pellet plant and provide financial support for capital investment. However, legal challenges have arisen, with the AP High Court restricting the sale of only a specific area of land.

The prospect of privatization has been a contentious issue, with trade unions expressing concerns over potential job losses. Despite initial plans for privatization, there is now a shift towards merging the plant with SAIL to address operational challenges and ensure the well-being of workers.

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]]> https://www.vizagone.com/news/the-centers-steps-towards-a-permanent-solution-for-vizag-steel-plant/feed/ 0 Behind the Scenes of the Bollywood Flop ‘Bade Miya Chote Miya’: Fallout and Unpaid Dues https://www.vizagone.com/movies/behind-the-scenes-of-the-bollywood-flop-bade-miya-chote-miya-fallout-and-unpaid-dues/ https://www.vizagone.com/movies/behind-the-scenes-of-the-bollywood-flop-bade-miya-chote-miya-fallout-and-unpaid-dues/#respond Mon, 23 Sep 2024 01:22:55 +0000 https://www.vizagone.com/?p=28873 The recent box office failure of the Bollywood movie 'Bade Miya Chote Miya' has created a ripple effect, leading to financial losses for the producers and unpaid dues for the director. The film, featuring A-list stars and made on a massive budget of 350 crores, fell short of expectations, resulting in a meager box office collection of 102 crores. Director Ali Abbas Zafar's plea for justice sheds light on the harsh realities faced by those involved in the film industry.

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]]> The Bollywood industry is no stranger to the highs and lows that come with each movie release. However, the aftermath of the colossal failure of ‘Bade Miya Chote Miya’ has left many reeling from its impact. The movie, boasting a star-studded cast including Akshay Kumar, Tiger Shroff, Prithviraj Sukumaran, Manushi Chillar, and Sonakshi Sinha, was expected to be a blockbuster hit but ended up as a financial disaster.

Director Ali Abbas Zafar, who poured his heart and soul into the project, found himself at the center of a storm when he revealed that he had not received his due payment of Rs 7.3 crore for directing the film. This revelation has sparked a debate on fair compensation and transparency in the industry.

The producers of ‘Bade Miya Chote Miya’, Jackie Bhagnani and Vashu Bhagnani of ‘Pooja Entertainment’, have reportedly faced substantial losses due to the movie’s failure. This has led to a domino effect, with reports emerging that employees are struggling to receive their salaries and the producers have had to liquidate assets to cover the losses.

The situation has raised concerns about the financial stability and accountability within the Bollywood film industry. The fallout from ‘Bade Miya Chote Miya’ serves as a stark reminder of the uncertainties that come with creating cinematic masterpieces and the risks involved in the pursuit of artistic success.

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