Producer Vashu Bhagnani Addresses Rumours About Selling Pooja Entertainment Office and Mass Layoffs to Clear Rs 250 Crore Debt
Producer Vashu Bhagnani’s statements aim to reassure that Pooja Entertainment is not in financial crisis as suggested by the rumours.
Pooja Entertainment, once a leading production house known for its hits, has faced a series of flops in recent years, including their latest failure, Bade Miyan Chote Miyan. Adding to their troubles, crew members have accused the company of non-payment. A source revealed to Bollywood Hungama, producer Vashu Bhagnani is now selling his office due to these ongoing setbacks. The source stated how the production house has been facing a series of setbacks since the pandemic starting with box office failure of Bell Bottom, Mission Raniganj, Ganapath and Bade Miyan Chote Miyan. This led to speculations that Vashu would be selling the Pooja Entertainment office space and there would be potential mass layoffs to clear the Rs 250 crore debt. Vashu Bhagnani’s Pooja Entertainment in Financial Trouble? Production Company’s Juhu Office Sold To Pay Off Rs 250 Crore Debt – Reports.
In response to rumours about selling off the Pooja Entertainment office and laying off staff due to financial troubles, producer Vashu Bhagnani clarified the situation. He stated “The building (office space) that people are talking about hasn’t been sold to anyone, it belongs to me even now. We are only redeveloping it into a tower that will house luxury homes. This was planned 1.5 years ago. I was waiting for Bade Miyan Chote Miyan to release after which we wanted to start the redevelopment.” Addressing reports of staff layoffs, the film producer assured that no employees have been let go and that the team continues to work from their old, ‘lucky’ office. “We’ve had the same team working with us for 10 years, we haven’t asked anyone to leave,” he added.
Vashu Bhagnani has also begun production for his next project it is an animation series that is mounted on a big scale. He adds, “I have been in the business for the past 30 years. If there are people who claim that we owe them money, they should come forward and talk to us. Do they have proper contracts with Pooja Entertainment? Have they filed a case regarding this? There are so many ways to sort this rather than ranting on social media. If there is an issue, we will resolve it. 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. We also work with production companies in the UK. If they owe someone money, then people should reach out to them directly.” Jackky Bhagnani and Vashu Bhagnani Accused of Non-Payment of Salaries to Pooja Entertainment Employees; Crew Member Pens Long Note Asking ‘Where Is My Hard Earned Money?’
Producer Vashu Bhagnani’s statements aim to reassure that Pooja Entertainment is not in financial crisis as suggested by the rumours.
(The above story first appeared on LatestLY on Jun 25, 2024 01:01 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).