PICTUREHOUSE MEDIA LTD.

Picturehouse Media Limited, was initially incorporated as Telephoto Entertainment Limited on February 2, 2000 in Tamil Nadu to undertake the business of production of Telefilms, Tele-serials and Cinematographic Films. The name of the Company was changed to Picturehouse Media Limited (PHML) on March 29, 2011 and since then, it engages in the business of Movie Production and related activities. Telephoto Entertainment acquired the assets, work-in-progress and film library copyrights of Telephoto Films, a proprietorship concern of Mr. Suresh Menon. Its present business activities encompass production of tele-serials , tele-films, advertisement films and feature films. The company's principal telecast channels are the various Southern regional channels of the Sun network. In March 2000, Telephoto placed 8,75,000 equity shares of the face value of Rs. 10 each at a price of Rs. 60 per share aggregating Rs 525 lakhs with venture capital and private equity investors. To capitalise on the tremendous growth worldwide in the animation business and to complement its current production facilities, the company proposes to set the animation and special effects studio. The facilities of the studio would be used to bring in animation and special effects in various tele-serials, tele-films, and feature films produced by the company. The company also proposes to offer the studio for use by other production companies. A well equipped preview theatre has been taken on lease by the company during the year 2000-2001. During the year on behalf of another producer, the company, as Executive Producer, is producing a Hindi Feature film. The shooting is scheduled to be completed by November 2003. The company commenced shooting , as Executive producer, of a Hindi feature films, directed by Priyadharshan during the year 2005. Two projects that were under execution as on 30th September, 2005 by the Company were assigned to Smile India Entertainment Pvt Limited, a company promoted by Mr. T. Suresh Chandra Menon. In this connection, on 15.3.2006, Company acquired the entire share capital of AGS Properties Development (India) Pvt Limited, acquired lands in Villivakkan and Anna Nagar, Chennai. The Company produced it first feature film under the banner of PVP Cinema 'Rajapattai' in Tamil language in 2012. In July 2012, another movie under the banner of PVP Cinema 'Naan-E' starring Sudeep and Samantha and directed by Mr. S. S. Rajmouli was released in Tamil language. In April 2012, Picturehouse acquired 100 % equity share capital of NBFC named PVP Capital Limited (formerly known as Nahar Finance Limited) to diversify and consolidate its presence in funding and providing capital to movies and production houses. During the year 2012-13, the Company produced its first feature film in Telugu language under the banner of PVP Cinema 'Balupu', which was directed by Mr. Gopichand Malineni, Director and the film got released on June 28, 2013. The Company s incorporated a wholly owned subsidiary company in Singapore, i.e., Picturehouse Media Private Limited, with a paid up capital of 5,000 Singapore Dollars during year 2013-14.