Current Affairs India - 15 December 2014

1. Hindi film -Jal- was included in the list of best picture Oscar hopefuls and India-s music legend A. R. Rahman may also get his third Oscar nomination in the best original score category after making it to the list of 114 probables for the Oscar award. Jal features in the best picture list as an independent submission, while India will officially be represented at the Academy awards in the best foreign feature category by Liar-s Dice.

R. Rahman has made it to the list for three of his films including Hollywood movies The Hundred-Foot Journey and Million Dollar Arm and Rajinikanth-starrer Tamil film Kochadaiiyaan. Earlier he has been nominated twice, for movies 127 Hours and Slumdog Millionaire and ended up winning both the Oscars.

2. Reliance MediaWorks Ltd and Carnival Cinemas have announced a deal today to sell Reliance MediaWorks- multiplexes business to Carnival Cinemas Ltd. Post this deal, Carnival Cinemas will be among the top 3 multiplex operators in the country with more than 300 screens in the country.

The transaction will reduce Reliance's leverage by approximately Rs. 700 crore, through a combination of transfer of debt and infusion of cash proceeds. As a part of this deal, Reliance Capital will also retain option to acquire pre-IPO minority stake at appropriate discount on eventual listing of Carnival Cinemas

3. Famous Telugu music director Chakri passed away early morning today. He was just 40. He was shifted to the hospital after he suffered a massive heart attack. He directed about 85 films, including some blockbuster flicks.