In November, Tirupur Subramaniam had told DTNext that in order to streamline finance for films, South Indian Film Financiers Association has been started with Subramaniam helming the body. However, the organisation was formally launched in Chennai last week.
Talking to DTNext, Tirupur Subramaniam, the President of SIFFA, said, “This is the need of the hour. The association also has Chandraprakash Jain, Anbu Chezhian, and Arun Pandian as office bearers. Major financiers like RB Choudhary, Sanjay Wadhva and Sunil CP Jain among others are also a part of this.” Talking about the reason behind starting this association at a time when actors and producers accuse financiers of usury in K’town, Subramaniam said, “There are numerous films that are shelved and are yet to release after completion. Those films will now see the light of the day.”
As much as 88 per cent of Tamil films are being made by funds from SIFFA. “Most of these films go into cans in half way or the actors sign another project simultaneously. This has put financiers and producers of those films in a fix. From now on, if the actors commit another film before completing the previous film, SIFFA will stop funding the films of those actors. Moreover, self-financing production houses will not come under the purview of SIFFA,” he said.
Tiruppur Subramaniam also clarified that the association will look into the production matters of films they fund. “We see what is required for the script before funding a film. Shooting a film for two or three years has definitely made life difficult for producers, who pay exorbitant interest rates. The cast and crew have made it a point to shoot songs or scenes abroad, which are unnecessary for many of the films. We will start looking into such details and allocate funds based on what its required for the film and which has to be completed within certain number of days,” he said.