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Punyashlok Bhakta Transfers To The Unknown Buyer Of Balaji’s Mobile Business

Balaji Telefilms, in an announcement, the company has said that Punyashlok Bhakta, CEO of its New Media business and Anurag Gupta, CEO of its Education business have transferred to the “Purchasing Company”, once again, not disclosing to the stock exchanges who has bought their Education and Mobile business. Bhakta was appointed the CEO Balaji New Media, joining from Hungama.com, in April last year.

Remember that on 29th December, 2011, the Company has entered into binding business transfer agreements, to sell its Mobile and Education division for Rs 8.37 crore, but retained the Internet division within the company. For the year ending March 31st 2011, it had reported a loss of Rs 8.35 crore on net sales of Rs 2.62 crore.

The education business is called the Institute of Creative Excellence, for training in “Acting, Cinematography, Direction, Editing, Production, Scriptwriting and Sound”. Balaji’s mobile division included made for mobile audio and video content (devotional, humor, mythology, Jokes), a made-for-mobile show called Kriminal Kaun, a devotion focused iPhone Application on Lord Ganesha, with stories and devotional songs, and was being distributed across telecom operators, and with VAS companies like Spice*, OnMobile Global and IMI Mobile.

Disclosure: Spice Digital is an advertiser with MediaNama

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