Balaji Telefilms Ltd said on Monday SGL Entertainment Ltd, part of broadcaster Star group, has terminated sourcing and telecasting TV serial 'Kyunki Saas Bhi Kabhi Bahu Thi' from November 10. The serial is produced by Balaji and the termination is in breach of contractual obligation owed by the Star group to Balaji, it said in a statement to the stock exchange.
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After Balaji Telefilms’ popular soap Kahani Ghar Ghar Ki, it is now time for Kyunki Saas Bhi Kabhie Bahu Thi to go off air. One of the longest running soap in Indian television's history, Kyunki Saas Bhi Kabhie Bahu Thi has been running for the last eight years. But now, reports suggest, Star Plus is coming up with a new line of programming to replace Kyunki.
The show is likely to go off air by the end of October. The show revolves around the Virani family with actor-politician Smriti Irani playing the lead character of Tulsi. hares in Balaji Telefilms Ltd extended losses after the television content provider said a Star group unit has terminated sourcing and telecasting a popular television show from November 10.
Kyunki Saas Bhi Kabhi Bahu Thi, which was once India's top-rated show, is produced by Balaji and the termination is in breach of contractual obligation owed by the Star group to Balaji, it said in a statement to the BSE.
Balaji is pursuing all legal remedies available, it added. Shares in the content maker fell as much as 13.3 percent to 94.20 rupees after the news and recovered slightly to trade 8.8 percent down at 99 rupees at 1157 hours IST India time. Kyunki is one of the six programs presently being produced by Balaji for the Star group, it added.
Balaji is also producing two programmes each for entertainment channels 9X and NDTV Imagine and another for Zee TV, it said in the statement. In August this year Star and Balaji said they will cancel their regional language joint venture agreement, and the Indian broadcaster will sell its 25.99 per cent stake in Balaji. The founders of Balaji are entitled to purchase the stake on their own or through a third party for Rs 190 a share.
News from Indiantelevision.com
Balaji Telefilms, however, is "pursuing all legal remedies available to it" as it feels that the "termination is in breach of contractual obligations owed by the Star Group to it."When contacted, Star India CEO Uday Shankar refused to comment on the issue. "The matter is sub judice," he said.
Another long running show Kahani Ghar Ghar Kii, produced by Balaji Telefilms for Star Plus, was put off air on 9 October. Star and Balaji Telefilms have earlier in August terminated their regional language joint venture agreement. Star is also selling its 25.99 per cent stake in Balaji.
The promoters of Balaji can buy the stake on their own or through a third party for Rs 190 a share. Kyunki… is one of the six shows that Balaji Telefilms produces for Star. Shares of Balaji Telefilms fell 9.62 per cent to Rs 98.15 on the BSE at the time of filing this report.
Here the replacement of 'Kyunki Saas Bhi Kabhi Bahu Thi' which will air in place of 'Kyunki Saas Bhi Kabhi Bahu Thi'