Ace director Sanjay Leela Bhansali’s historical film ‘Padmavati’ has been made with a whopping Rs 170 Cr budget. Since the high-budget film is facing protests and threats, its release has been postponed indefinitely. This delay will naturally cause losses to producers as well distributors. Now, here are the details of the whopping yet intricate insurance policy of Padmavati.
The Chairman of New India Assurance company has confirmed that his firm has insured Padmavati for a whopping Rs 140 Cr. The producers/distributors can claim a compensation of up to Rs 80 crores in box office collections in case the film’s screening is affected or if the audiences are unable to access theatres due to factors such as strikes, riots, and even weather-related events.
However, the one clause that worries Padmavati makers is that the policy does not cover any loss if the film is banned by government. Moreover, the insurance cover comes into effect only after the film’s theatrical release. Considering that ‘Padmavati’ has been banned in five states – Gujarat, Rajasthan, Madhya Pradesh, Uttar Pradesh and Punjab, and taking into account that it’s release has been postponed indefinitely, the makers can’t claim any compensation as of yet.
The insurance cover will come into effect only if protests affect the screening of Padmavati after its theatrical release, that too, only in the regions where it was not banned by the government. Discussions are reportedly going on between the makers and the insurance company over who should bear the losses. It will be interesting to see how they resolve this situation.
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