The big corporate pull back has now begun

While they all may not be admitting it out openly but the truth still remains that the corporate production houses and individual producers are facing the financial low down heat.

Today the time is such that every single corporate is rethinking about his commitments and if it is possible then they are trying to back out of their commitments and contracts.

An industry source says, "All the so called big production houses and single producers are finding the first escape route out of big contracts and agreement deals made over films and star actors and directors. All those films that the corporates were to either produce jointly or with individual producers or distribute all over India are being reconsidered.

Corporate biggie, Eros though is tight-lipped about the production status of Vijay Galani's Veer, starring Salman Khan and being directed by Anil Sharma, but the fact is that the company is reworking on the budget. If the period film has to move forward, the stars and technicians, it is learnt, would have to slash their prices.

Eros has also kept several other productions on hold. Anil Ambani group's BIG Pictures is asking the produ­cers with whom it had entered into joint venture deals, to look for distributors as it may not be inclined to release the film in the various territories. Indian Films has reportedly taken a decision internally, to lie low and refrain from acquiring films for worldwide distribution, no matter what!

--SAMPURN