Bollywood producer selling off property to repay debts after flops
By : Bhavana Sharma
Update: 2024-06-24 10:24 GMT
Mumbai: Pooja Entertainment which was once a top production house having consecutive hit movies is at the moment going through a difficult time. Its recent release “Bade Miyan Chote Miyan” has failed miserably on box office, while some members of crew have accused the production house not to pay them. Furthermore, there are reports at the moment that veteran producer Vashu Bhagnani is forced to sell his office as he witnesses back-to-back flops.
According to Bollywood Hungama, “It all started with ‘Bell Bottom,’ one of the earliest Hindi movies to hit theaters following COVID-19 pandemic in 2021. That film also bombed and so did ‘Mission Raniganj’ thereafter. In addition, Ganapath, their latest big-budget movie performed dismally and even Netflix rejected it despite an acquisition agreement. The company’s financial statement had already begun to show signs of trouble by this stage and then came the massive investment in Bade Miyan Chote Miyan that only made matters worse.”
The source went on to say, “However, this action entertainer featuring Akshay Kumar and Tiger Shroff was expected to be able to revive its fiscal condition still. However, it turned out that Ali Abbas Zafar's directorial became the biggest flop in history, nearly bankrupting the firm itself. To settle the oodles of debts incurred Vashu was left with no other option but selling off his building.
According to Bollywood Hungama, “It all started with ‘Bell Bottom,’ one of the earliest Hindi movies to hit theaters following COVID-19 pandemic in 2021. That film also bombed and so did ‘Mission Raniganj’ thereafter. In addition, Ganapath, their latest big-budget movie performed dismally and even Netflix rejected it despite an acquisition agreement. The company’s financial statement had already begun to show signs of trouble by this stage and then came the massive investment in Bade Miyan Chote Miyan that only made matters worse.”
The source went on to say, “However, this action entertainer featuring Akshay Kumar and Tiger Shroff was expected to be able to revive its fiscal condition still. However, it turned out that Ali Abbas Zafar's directorial became the biggest flop in history, nearly bankrupting the firm itself. To settle the oodles of debts incurred Vashu was left with no other option but selling off his building.
Pooja Entertainment’s team has not spoken up about these controversies nor commented on their current financial problems; they are still waiting for an official release.
As Pooja Entertainment grapples with mounting pressure, industry insiders watch closely whether they will be able sail through this storm period or recover from such major setbacks.
As Pooja Entertainment grapples with mounting pressure, industry insiders watch closely whether they will be able sail through this storm period or recover from such major setbacks.