Vashu Bhagnani, owner of Pooja Entertainment, has been in the news for alleged non-payment of dues. He has now come clear on all accusation against his company
Vashu Bhagnani
Producers Vashu Bhagnani and Jackky Bhagnani owned by Pooja Entertainment have been in the news for a few days .Last week, the production house was accused of non-payment of dues and laying off 80% of its staff. Several media reports stated that the Pooja Entertainment office premises in Juhu, Mumbai was sold off to clear debt of Rs 250 crores. While Bhagnani dismissed rumours of selling off property to clear debts, he admitted the failure of 'Bade Miyan Chote Miyan' did have an impact on the production house.
"There is truth in this. Bade Miyan Chote Miyan flopped. It is a part of our business, you know. Nothing to do with what building to buy. I passed this building 15 months ago and I have shown its papers," Vashu Bhagnani said in an interview with ANI adding, "This building is being demolished and it is becoming double in size from a single building. Now it will be 15 storeys."
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Highlighting his extensive experience in the construction industry, Bhagnani emphasized that this is not his first building venture but rather his 45th. He clarified that his involvement extends beyond the film business, including distribution, building construction, and other endeavours. "This is the 45th building. Now people don't know my nature. I don't want to talk about the industry. I don't just do film business, I do distribution, I build buildings, I do construction. And no one knows about me because I have never put up a website, and I have never done marketing."
Bhagnani, a businessman with work spanning three decades in the industry, expressed frustration over what he perceives as baseless rumours affecting his reputation.
"I am a businessman. It has been 30 years since I started doing business. I know why they make films, why they build buildings," he asserted, highlighting his extensive portfolio that includes iconic films such as 'Coolie No. 1,' 'Hero No. 1,' and 'Biwi No. 1.'
Regarding allegations of employee layoffs within Pooja Entertainment and other affiliated companies, Bhagnani clarified, "If even one of my employees had issues, they could have approached me directly. Those who have been with me for 10-20 years remain with me," rebutting claims of mass dismissals.
He affirmed his commitment to expanding his workforce as business demands grow, pointing out ongoing operations at his Mumbai studio.
He said that his son film producer Jackky Bhagnani has almost made a full plan of three to five films already.
Addressing concerns about financial transparency and ongoing projects, Bhagnani revealed plans for future film ventures and international expansion, including an ambitious animation project set to tap into the digital market by 2025-2026.
He also disclosed his involvement in significant overseas construction projects, highlighting his dedication to promoting Indian talent and culture abroad.
Bhagnani also expressed gratitude for the industry support received during recent controversies, noting phone calls from prominent figures like Sunny Deol, Suniel Shetty, and Akshay Kumar.
In conclusion, Bhagnani reiterated his resilience in the face of adversity, stating, "I am not taking loans from anyone. I am paying people; people are not paying me."
(with inputs from ANI)
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