(Editor’s note: This post was updated at 5 p.m. on January 31. Thanks to our reader Carol, who told us 5 lakh = 500,000 rupees = $10,039.96.)

Yum! Brands, the Kentucky-gone-global chicken/taco/pizza purveyor isn’t the only Louisville-based mega-corporation focused like white hot laser on the developing world.

We should have known that Jack Daniel’s sponsors India’s premier indie music awards in a deal with Rolling Stone, the seventh year for the JD sponsorship.

The big night is Feb. 23, and we wish we could be there in Mumbai. The prize money is in some currency – Rs 5 lakh – we can’t decipher, and when we tried to convert to dollars, it came up something like $1 billion.So, clearly, we have a decimal point in the wrong place. Or this is a bigger deal than we thought.

(The prize equals $10,039.96.)

It’s hard seeing bands such as Indian Ocean, which really just speeds up traditional Indian music, translating to the States.

That said, Indian Ocean has real money behind them, and their Youtube videos get hundreds of thousand of views.

Oddly, that’s not the case with Menwhopause, which has a lot more comercial sound in U.S. and world music terms.

Menwhopause (get it?) plays original music that sounds more like the new, heavily acoustic Louisville sound than Mumbai. Weird.

The band has serious talent in guitarist Inder Pal Singh and bassist Randeep Singh.

Then there’s Pentagram, which sounds really fresh!

Here’s the JD news release:

MUMBAI: Indian Ocean, Pentagram, Menwhopause along with a host of hot young bands like Undying Inc and Sky Rabbit are among the major nominees for Jack Daniel’s rock awards 2011.

The seventh edition of the annual awards in association with Rolling Stone will be held on 23 February at Mehboob Studio in Mumbai.

A total of 15 awards, based on original music created in the year 2011 (1 October 2010 to 30 September 2011) will be presented at the ceremony.

Winners in the top three categories – Best Band, Best Album and Best Song will be determined by a combination of public voting and distinguished jury ballot. The voting will close on 12 February. The winner of the Best Band category will receive the cash prize of Rs 5 lakh along with the coveted title.

Brown-Forman Worldwide (the owners of Jack Daniel’s family of brands) South Asia VP & area director Amrit Kiran Singh said, “ The Jack Daniel’s Rock Awards is something of a cult event that the music fraternity looks forward to every year and Mehboob Studios provides an appropriate setting for the event.”

Last year, Mumbai-based band Scribe was the big winner with five awards.

The Jack Daniel’s Annual Rock Awards has also organized the series of build up show depicting the journey of the awards grand finale. The final leg of the show will be held on 12 January in Gurgaon. The build-up shows featured well-known artistes and young undiscovered talents performing in the Open Mic Nights hosted by Luke Kenny.

Jack Daniel’s Annual Rock Awards 2011 Nominees

Best Band

1. Indian Ocean

2. Menwhopause

3. Pentagram

4. Peter Cat Recording Co

5. Undying Inc

Best Album

1. Dischordian – The Feni Farm Riot

2. Indian Ocean – 16/330 Khajoor Road

3. Menwhopause – Easy

4. Pentagram – Bloodywood

5. Undying Inc – Aggressive World Dynasty

Best Song

1. Eccentric Pendulum – Mathematicians of Ambient Waters

2. Indian Ocean – Darte Ho

3. Menwhopause – Easy

4. Pentagram – Tomorrow’s Decided

5. Peter Cat Recording Co – Clown on the 22nd Floor

6. Sky Rabbit – I Become I

7. The Circus – F.O.P.S

8. Undying Inc – Xenophobe

Best Vocalist [Male]

1. Kishore Krishna – Adam & The Fish Eyed Poets

2. Garreth D’Mello – Dischordian

3. Siddharth Basrur – Goddess Gagged

4. Vishal Dadlani – Pentagram

5. Raxit Tewari – Sky Rabbit

6. Shashank Bhatnagar – Undying Inc

Best Vocalist [Female]

1. Subhadra Kamath – Fire Exit

2. Pragnya Wakhlu

3. Suchitra Pillai

4. Samara C – The Ska Vengers

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