Kolkata, Aug 18 (IANS) Evergreen Bengali hero Prosenjit Chatterjee will play the title role in an upcoming film on the curious case of "Gumnami Baba", a man many assumed to be the legendary freedom fighter Netaji Subhas Chandra Bose.
The yet untitled film, to be made under the banner of Eastern India's largest entertainment company, SVF, would be written and directed by the famed Srijit Mukherji, a release said.
The trio announced the new project on Saturday, as on this day 73 years ago, Netaji had boarded a flight in Formosa, now Taiwan, before mysteriously disappearing forever.
A section of Bose's family, as also some researchers believe that Netaji died in a plane crash at Taihoku airport. However, other sections of the family, as also a large number of researchers and admirers of the revolutionary have rejected the air crash theory.
Excited about the announcement of the new project, director and co-founder of SVF Shrikant Mohta said: "We are optimistic that this film will garner positive critical and audience response."
The film is scheduled to release in 2019.
Although there are several theories of the nationalist leader resurfacing, there have been strong claims by certain quarters of Bose having lived incognito as the "Gumnami Baba" or Bhagwanji or Mahakal in Uttar Pradesh's Faizabad district.
The Indian government constituted as many as three probe commissions to ferret out the truth behind Netaji's disappearance.
In 1999, the Mukherjee Commission, led by retired Supreme Court judge M.K. Mukherjee initiated an exhaustive six-year-long probe into the "alleged disappearance".
Though Mukherjee, in the report, nixed the air crash theory, he did not conclude that the 'sanyasi' was Bose due to "absence" of any clinching evidence.
Incidentally, a documentary "Black Box of History" made a couple of years ago by Amlan Kusum Ghosh on the Netaji mystery, has a footage (taken without Mukherjee's knowledge) in which the retired judge is heard saying: "I am hundred percent sure that he (the monk) is Netaji."
The Mamata Banerjee-led West Bengal government in 2015 declassified 64 files on Netaji.
The Narendra Modi-led central government has also made public a series of files revealing many sensational facts about the revolutionary.
In June 2016, the Uttar Pradesh government set up a judicial commission to probe the identity of Gumnami Baba, reigniting the debate whether the ascetic who lived till 1985 was Netaji.
Mumbai, Aug 18 (IANS) Corporate Affairs Secretary Injeti Srinivas on Saturday said maximisation of asset-value of insolvent companies and being fair to lesser creditors are vital for the success of the Insolvency and Bankruptcy Code (IBC).
"For the IBC to achieve a path-breaking success, the maximization of the asset-value of the insolvent company and attaining a balance with regards to the interests of all creditors is vital," said Srinivas speaking on the IBC at a CII conference here.
On achievements of the Code, he stated that the insolvency cost in many cases under the insolvency resolution process is 1 per cent as against the 9 per cent under the now dissolved Board for Industrial and Financial Reconstruction (BIFR).
Srinivas pointed out that the haircut, or the loan losses, given to the creditors needed to be seen from the perspective of the enterprise value and not from the claimed value, which includes interest, penal interest and compounding interest.
Insolvency and Bankruptcy Board of India (IBBI) Chairman M.S. Sahoo said challenges are related to the haircut offered to the creditors and the fiduciary duty of financial creditors with regards to other stakeholders of the bankrupt company.
"The financial creditors have the right to decide the haircut but at the same time they should delimit the haircut for other creditors. The committee of creditors being a statutory body is at the position of being a trustee," Sahoo stated.
The Code is not only a mechanism of recovery for the creditors but also an opportunity to revive the insolvent company, Sahoo added.
CII President Designate Uday Kotak lauded the pro-active approach of the government and regulators with respect to making appropriate and timely changes to the Code.
Kotak said one of the most noteworthy achievements of the Code is the caution and discipline the system has infused while borrowing money from the market.
CII National Committee on Legal Services Chairman Shardul Shroff highlighted the challenge related to Information Utility that is weak due to the tough regime of privacy in India. It is leaving a gaping hole in the success of the Code, he said.
E-admission on template basis for insolvency cases should be allowed and National Company Law Tribunal (NCLT) should act as a one-stop shop for the submissions under the Code, Shroff added.