The 44-year-old theatre received donations from artists and students after it went public about the news that its electricity would be cut off on account of non-payment of the hefty dues.
Prominent among the contributors is stand up comedian Papa CJ, who donated a sum of Rs 3 lakh to enable the theatre to pay off its bills.
"Papa CJ donated 3 lakh rupees. Another Puneet Mudgil, a businessman and friend of Papa CJ has donated for the theatre. Others include artists from Delhi like Andrew Hofflin and many young people have come forward to help us in whichever way possible to save the theatre," Jalbaba Vaidya, one of the founder members of the Akshara Theatre said.
"We still do not have adequate funds for the sustenance of the theatre. We need a lot of funds to pay the actors and teachers, and for the maintenance of the theatre," says Vaidya.
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Authorities are now looking at alternative ways to raise funds such as renting out a part of the theatre area for business and other purposes.
"Akshara Theatre has many areas in its complex which can be rented out and used for other purposes. These areas can be utilised for anything. We had given a particular area of the theatre to one person who did not pay his property taxes and left Akshara.
Following reports in the media, the theatre authorities were also approached and offered support by the Delhi Government.
Fund raising events are now being organised both by the
theatre and people who voluntarily want to help theatre authorities.
A two-day festival called the Akshara Festival is being scheduled on April 23-24 by two Delhi-based students, Divya and Manu to raise funds for the theatre.
"We are looking forward to collaborate with many people. In a fund raiser, two Delhi based students, (Divya and Manu), are organising a fund raiser for the theatre in a two-day festival called the Akshara Festival. The festival would have plays, interactive theatre sessions, 'Bring Back the Poet' session," says Vaidya.
"We want the government to give us funds and conduct their functions here in Akshara. This would not only help us financially but will also make people aware of Akshara. This is a heritage building and possesses a rich history which we want the cultural sector to know," says the co-founder.
Last month, Akshara Theatre was caught in a financial turmoil following a due electricity bill of 4 lakh rupees which was paid off after the theatre started an online campaign to raise funds.
Over the years it hosted numerous plays and supported young theatre groups and college students over the years with its "Ramayan" written by Gopal Sharman becoming the only Indian play till date to have appeared on Broadway in February 1975 with the New York Times terming it 'India's Gift to Broadway.'
Since then 'The Ramayan' has been performed more than 2000 times as a tour de force solo performance, by Jalabala Vaidya, who is also Sharman's wife, at various national theatres in the West and in 35 towns and cities of India to packed houses and rave reviews.
Theatre groups like New Delhi Players, IPTA, Tadpole Repertory, MITR Cultural Society, Saksham Arts, Curtain Call Productions, are regulars at the venue.