Vashu Bhagnani Breaks His Silence On Selling Off His Production House To Clear Debt And Other Claims
Vashu Bhagnani Breaks His Silence On Selling Off His Production House To Clear Debt And Other Claims
Vashu Bhagnani and his son, Jackky Bhagnani, are the proud owners of the renowned production house Pooja Entertainment. Over the years, the production house has given multiple movies in the history of the Hindi film industry. However, after a few years, multiple movies tanked at the box office, leading to huge losses for the house. Thus, for a few days, reports surfaced on the internet that the production house was running under huge debt, was not able to provide salaries and thus had to sell off their Mumbai office to pay their crew.
Vashu Bhagnani finally reacts to the claims of non-payment dues and selling his office to clear Rs. 250 crore debt
Finally, producer, Vashu Bhagnani reacted to the ongoing buzz in the media regarding his production house, Pooja Entertainment. In an interview with ETimes, he denied reports of selling his Mumbai office to clear his debts and also talked about the crew member’s allegations. He also discussed crew members’ allegations of non-payment of dues. Vashu Bhagnani said:
“The building (office space) that people are talking about hasn’t been sold to anyone, it belongs to me even now.”
Also Read: Hansal Mehta Reveals A Star Refused To Meet His Differently Abled Son Despite His Multiple Requests
In the same conversation, Vashu Bhagnani also explained that they were redeveloping their production house into a tower that would also have luxury homes. However, he shared that the plan had been in place for 1.5 years, and they were waiting for the release of Bade Miyan Chote Miyan, starring Akshay Kumar and Tiger Shroff, before commencing the redevelopment. During the office space redevelopment, Vashu mentioned that his team is operating from their previous office, which he considers fortunate for them.
Further, Vashu reacted to crew members’ allegations of non-payment of dues. He asked those who have filed a case to show proper contract papers with Pooja Entertainment. He, however, also emphasized that there are many ways to resolve these issues besides complaining on social media. He added:
“Nobody is running away. Please come to my office, talk to us, give us your documents and give us 60 days to figure things out. I am not going to buckle under any pressure or blackmail.”
Suggested Read: Suhana Khan Gets Spotted Playing Cricket With Daddy, Shah Rukh Khan On A Fine Afternoon In London
Reports claimed Vashu Bhagnani and Jackky Bhagnani’s production faced a major blow after the failure of Bade Miyan Chote Miyan
Earlier, Vaishnavi Paralikar took to her IG stories and accused Pooja Entertainment of non-payment of her dues, and following this a series of events followed. As per multiple reports swirling on the internet, the production house has not paid fees to Akshay Kumar Tiger Shroff, Director, Ali Abbas Jafar, and more than 100 crew members. Several company workers have taken to social media and revealed that they have even laid off 80% of their workforce. A source close to Vashu Bhagnani talked about the same and shared:
“It all started with Bell Bottom, which was one of the first Hindi movie to be released in theatres post the COVID-19 pandemic in 2021. The film flopped badly at the box office and so did the next one, Mission Raniganj. The company faced another setback when the big-budget Ganapath failed to perform and was even rejected by Netflix despite an acquisition deal. Red flags had already begun to appear in the company’s financial sheet by this point, and the enormous investment in Bade Miyan Chote Miyan made matters worse.”
What do you think about Vashu’s revelations? Let us know!
Next Read: Nana Patekar Says Anil Kapoor Got Him Replaced In ‘Parinda’, Anil Said, ‘Main Nana Ko Kyu Star..’
