Mr. Rasesh B. Kanakia

PROMOTER

Mr. Rasesh B. Kanakia, is an Indian National, began his career as a real estate consultant in the year 1984 and subsequently ventured into real estate development in the year 1986. He was instrumental in making "Kanakia Group" a well established name in the field of real estate development. In 1997, by virtue of his foresightedness, the group forayed into cinemax exhibition by retrofitting theaters and setting up theaters with multiple screens. His keen interaction with the film fraternity has also resulted in our Company's multiplex being the preferred destination for number of premiere shows. Under his leadership the Group operates an I.C.S.E School and a Commerce & Science College in Mumbai. With strong developer background and seeing the boom in Hotel Industry, he further diversified the Group's activities into hospitality business.

 

As the Chairman of our Company, he looks after critical functions of the management viz., Finance, Startegic management and Public Relations.

Mr. Himanshu B. Kanakia

PROMOTER

Mr. Himanshu B. Kanakia, is an Indian National, began his career as Civil Engineer, in the year 1987. He has personally overseen over fifty development projects, ranging from Residential, Commercial, Malls, IT Parks, Hotels, Schools and Multiplexes. Under his guidance the Kanakia Group has developed more than 8 million sq. ft. and another 5 million sq. ft. under various stages of construction. His technical expertise and engineering skills in project development for more than two decades and experience of more than 9 years in film exhibition business has contributed largely to our development and growth. He has been instrumental in ensuring delivery of quality fit outs including introduction of novel concepts like 'The Red Lounge' and 'Giggles - The Gaming Zone'.

 

As a Managing Director of our Company, he is actively involved with the operations, constructions, systems and administration of our Company.

History

Our Company was incorporated on May 22, 2002 under the Companies Act as Cineline Entertainment (India) Private Limited to primarily carry on the business of building, owning, and operating Multiplexes, Theatres and entertainment centres. The name of our Company was changed to Cinemax Cinemas (India) Private Limited on December 23, 2005. We were converted to a public limited company by a resolution of the members passed at the AGM held on June 12, 2006. The fresh certificate of incorporation consequent to the change of name of our Company was issued by the RoC on July 27, 2006.

 

Our Company was incorporated with its registered office at Acme Commercial Arcade, 4th Floor Trikamdas Road, Kandivali (W) Mumbai-400067, which was subsequently shifted to 5th Floor, 349 Business Point, Western Express Highway, Andheri (East), Mumbai 400069 consequent to the approval of the Board on March 28, 2006. Pursuant to the approval of our Board on August 25, 2006, the registered office of our Company was shifted from 5th Floor, 349 Business Point, Western Express Highway, Andheri (East), Mumbai 400069 to 805, 8th Floor, 349 Business Point, Western Express Highway, Andheri (East), Mumbai 400069, where it is presently situated.

Our Company had carried out a restructuring exercise, wherein seven of our group companies i.e. Rupam Private Limited, Hariyash Theatres Private Limited, Kanakia Shelters Private Limited, Kanakia Creators Private Limited, Vrushti Theatres Private Limited, Cineline Cinemas (India) Private Limited, and Cineline Multiplex Theatres (India) Private Limited (hereinafter referred to as the "merged entities") were merged with us with effect from April 1, 2006. The High Court of Bombay sanctioned the Scheme of Amalgamation on March 24, 2006. The restructuring exercise was done with a view to consolidate the Theatres and Multiplexes operated by us through various subsidiaries under the brand name of CINEMAX and also to facilitate cost effective regulatory compliance. Some of the salient features of the Scheme of Amalgamation are as follows.

 

The entire business and whole of the undertakings of Rupam Private Limited, Hariyash Theatres Private Limited, Kanakia Shelters Private Limited, Kanakia Creators Private Limited, Vrushti Theatres Private Limited, Cineline Cinemas (India) Private Limited and Cineline Multiplex Theatres (India) Private Limited, as on the appointed date of April 1, 2006 was transferred to and vested in our Company so as to become assets and properties of our Company.

 

The entire equity share capital of Rupam Private Limited, Hariyash Theatres Private Limited, Kanakia Shelters Private Limited, Kanakia Creators Private Limited, Vrushti Theatres Private Limited and Cineline Multiplex Theatres (India) Private Limited was being held by our Company and subsequently on the Scheme of Amalgamation becoming effective, stood automatically cancelled. However, we along with Rupam Private Limited, Hariyash Theatres Private Limited, Vrushti Theatres Private Limited and Kanakia Shelters Private Limited held collectively only 71.64% of the equity share capital of Cineline Cinemas (India) Private Limited and the remaining 28.36% equity shares was being held by the other shareholders, who were issued twelve redeemable non-convertible Preference Shares of Rs. 10 each of our Company for every one equity share held by them in Cineline Cinemas (India) Private Limited.

Details of Directors & Key Managerial Employees

Mr. Rasesh B. Kanakia, is the Chairman of our Company. He started his career as real estate consultant in the year 1984 and subsequently ventured into real estate development in the year 1986. He was instrumental in the successful diversification of the Kanakia Group of companies from real estate to other business activities such as entertainment, education and hospitality. He looks after critical functions of the Management viz Finance, Strategic Management and P R Management. He has been a member of our Board since incorporation.

 

Mr. Himanshu B. Kanakia, is the Managing Director of our Company. He has handled more than fifty projects involving development of approximately ten million square feet for the Kanakia Group of companies. He is closely involved with the operations, construction, systems and administration of our Company. He has been a member of our Board since incorporation.

 

Mr. Anand Bathiya, is a qualified Chartered Accountants & member of The Institute of Company Secretaries of India. He is a Bachelor at Commerce from Sydenham College of Commerce and Bachelor at Laws from University of Mumbai. Mr. Bathiya also holds a post-graduate Diploma in Securities Law from Government Law College and a post-qualification Diploma in Information Systems Audit from the Institute of Chartered Accountants of India. He has been predominantly involved in helping companies in identifying, negotiating, structuring, reviewing and executing complex, domestic and international Mergers & Acquisitions (M&A).  He is also Assisting Indian Corporates in raising equity resources through listing on the Indian and international capital markets; private equity, structured finance, FCCBs, etc. Involved in many Initial Public Offer (IPO) advisory and private equity fund-raising exercises having worked closely with leading Indian and International Investment Banks over the years.Mr. Anand Bathiya is a sub-group member for the 'IFRS Implementation Committee' at WIRC-ICAI for the year 2013-14 and was a co-opted member at the 'IFRS Implementation Committee' at WIRC-ICAI for year 2012-13. He is also an active member of Young Leaders' Forum of the Indian Merchants Chamber and TIE Mumbai. Regular speaker at various gatherings for Ministry of Corporate Affairs, ICAI, ICSI, WIRC, BCAS and other bodies of professional interests on a wide range of topics. Visiting faculty at various Business Schools on topics in relation to investment banking, financial engineering, corporate restructuring, corporate laws, M&As, IPOs, etc. Author of various articles and reports on IPOs, Capital Markets, Securities Laws, IFRS, Accounting Standards, Corporate Laws, Financial Engineering, etc.

 

Mrs. Hiral Kanakia, holds a Bachelor degree in Arts and has a career spanning of around 20 years. She is closely involved in the operation and administration of the Company. She joined our Board as Non-Executive Additional Director on 5th February, 2015.

 

Mr. Naushad Panjwani is a Chartered Accountant and a commerce graduate having work experience of over 27 years. He has a vast experience in the areas of finance, tax, strategy, retail, investment banking, cross border merger and acquisitions and real estate transactions being his forte. He has been associated with Mandarus Partners ,Knight Frank India Pvt. Ltd., Gawande & Panjwani, etc. He has served as member of Managing Committee and Co-Chairman OF Urban Development, Smart Cities, Real Estate & Infrastructure committee of IMC Chamber of Commerce & Industry FY 2017-18 & 2018-19. He has also served as Vice President of Western India Region of Indo American Chamber of Commerce for FY 2017-18 and 2018-19.

 

Mr. Shantilal Haria is a Chartered Accountant and a Company Secretary, with in depth knowledge and professional experience of more than 30 years in the field of Fund Raising, Business Advisory, Income Tax, Company Law, Allied Laws and Realty Sector. He is also involved in few private equity deals. He is the promoter of Pankti Group. He is an independent director on the board of G.M. Breweries Ltd.

Promoters, History and key Management