Chit fund fiasco inspires movie

Kolkata: The chit fund fiasco that has hit Bengal has inspired a new movie. The film ‘Kagojer Nouka’ meaning Paper Boat, which was released on Friday, symbolically refers to an object that does not stay afloat for a long and eventually capsizes.

Though the timing of the release is purely conincidental, director Partha Sarathi Jowardar believes that his cinematic adaptation of the chit fund collapse done in anticipation of such a disaster to befall the state, looks very real against the backdrop of the events that has unfolded since mid-April when Saradha Group went bust and would reveal many unknown facets about ponzi schemes.

“Ponzi firms work on the aspect of greed of an average hard working individual who is lured by the promiscuity of high returns within a short time, which eventually cannot be sustained within the economic frame work. Eventually people get cheated,” said Dadasaheb Phalke winner Soumitra Chatterjee who played the character of promoter of such a company in the film.

The Bengali film industry, which has seen an unprecedented increase in terms of sheer volume of films produced and released because of the fresh flow of funds is worried as hundreds of projects are getting shelved and releases been postponed. Companies running ponzi schemes have invested around Rs 400 million annually in the industry. But with the regulators tying the noose around such companies, funding will run dry affecting the industry severely.

Renowned film director Goutam Ghosh, whose film ‘Moner Manush’ which won the national award was produced by such another deposit taking company called ‘Rose Valley’ said, “Film directors interact with the film division of a company, chit fund or whatever, during pre-production, shooting and the post-production phase and it is not always possible for a creative person to ascertain the source of funds.”

Till now productions of five movies have been stalled due to the on-going crisis and numerous releases held. “More than profit-making the finance companies aim at brand building from movie ventures and increase their acceptability amongst the people. For the artists and technicians involved it is quite impossible to know or question the source of funds as long as the film is completed in a time-bound manner and being released,” said actor Paoli Dam.