Jackky Bhagnani Sells Off Mumbai Office Of Production House Pooja Entertainment To Clear Rs 250 Cr Debt; Report
Following accusations of delayed payments by several crew members, Pooja Entertainment has sold its seven-floor office in Mumbai to address a ₹250 crore debt amid rising financial troubles.
New Delhi: Following accusations of delayed payments by several crew members, Bollywood Hungama reported that Pooja Entertainment has sold its seven-floor office in Mumbai to address a ₹250 crore debt amid rising financial troubles.
Jackky Bhagnani's production house office sold off
Pooja Entertainment, managed by Jackky Bhagnani and his father Vashu Bhagnani, has scaled down its operations after a string of box office failures. Trade sources reveal that Vashu Bhagnani sold the office to a builder, though the buyer's identity and the sale amount remain undisclosed. The building will reportedly be demolished to make way for a luxury residential project.
Staff reductions began in April, especially after the failure of "Bade Miyan Chote Miyan," which starred Akshay Kumar and Tiger Shroff. The film grossed ₹59.17 crores but was made on a hefty budget of nearly ₹350 crore. The report states that “Vashu sold the building to pay off debts to multiple financiers, amounting to approximately ₹250 crore.”
What went wrong
“It all started with 'Bell Bottom,' one of the first Hindi movies released in theatres post-COVID-19 pandemic in 2021. The film flopped badly at the box office, as 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. Financial red flags began to appear by this point, and the enormous investment in 'Bade Miyan Chote Miyan' made matters worse,” a source explained.
The insider added, “The firm still hoped that the action entertainer starring Akshay Kumar and Tiger Shroff would turn around its financial situation. However, the historic failure of this Ali Abbas Zafar directorial nearly crippled the company. Vashu had no choice but to sell the building to pay off the enormous debt.”
The report also claims that Vashu and Jackky are working on rebooting operations and “have already started discussions with actors and directors for a fresh slate of movies.” They are also moving ahead with Shahid Kapoor’s 'Ashwatthama' project, announced a few months back.
Employee complains of unprofessional behaviour
Earlier this week, crew member Ruchita Kamble took to Instagram to share a long post, urging others not to work with Pooja Entertainment. She wrote, “Not one to ever make such posts but sometimes people need to be ousted! Seeing my team and the crew I worked with struggle day in and out to just get hold of our own hard-earned money has compelled me to make this post. Read the sheer frustration of these young girls who have beautifully stated the absolute disregard @pooja_ent has and the sheer unprofessional, unethical behavior that we all have been tolerating for way too long.”
About Pooja Entertainment
Founded in 1986, Pooja Entertainment is known for backing projects such as "Coolie No.1," "Biwi No.1," "Rangrezz," "Shaadi No.1," and "Jawaani Jaaneman." Their last film, "Bade Miyan Chote Miyan," starring Akshay Kumar and Tiger Shroff, was a box office dud.
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