cineline: PVR discontinues operations of 23 screens after expiry of lease with Cineline India

Multiplex operator PVR on Friday stated it has discontinued operations of 23 screens throughout 9 properties after the expiry of their lease with Cineline India. After this, PVR’s display rely as on date has come right down to 848 at 172 properties in 73 cities, the corporate stated in a regulatory submitting.

“We want to inform you that on March 31, 2022, the corporate has discontinued operations of 23 screens throughout 9 properties on expiry of their lease with Cineline India Ltd,” it stated.

Cineline India, part of Kanakia Group, had earlier introduced reentering the movie exhibition enterprise with a brand new model id.

In 2012, Cineline had offered its multiplex enterprise together with Cinemax Model to PVR Restricted underneath a non-compete clause which has already ended.

Additional, Cineline had leased out 9 properties with 23 screens to PVR underneath lease and license agreements, on which multiplex operations had been run by PVR.

It has plans to begin its movie exhibition operations within the first quarter of FY23 via 9 properties with 23 screens throughout Mumbai, Thane, Nashik, and Nagpur having an combination seating capability of greater than 6,000.