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Vashu Bhagnani breaks silence on rumours of mass layoffs, selling office space to clear debts

Reacting to ongoing rumours about Pooja Entertainment selling office space and laying off people, producer Vashu Bhagnani has finally come forward and broken his silence. Check out what he said.

Written By: Aseem Sharma @kaafir_aseem New Delhi Published on: June 25, 2024 12:23 IST
Vashu Bhagnani
Image Source : X Vashu Bhagnani

Vashu Bhagnani and Jackky Bhagnani's Pooja Entertainment has recently made headlines for all the wrong reasons. The production banner has been in the news for the reports claiming that the company has not made payments of its dues and has sold its seven-floor office space, located in Mumbai's Juhu area to pay off the debt. Reports also claimed that the company has laid off 80 per cent of its staff. In a chat with Times of India, Vashu Bhagnani refutes such claims and said, ''The building 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,'' he added.

Talking about layoffs of his staff, he further said, ''We've had the same team working with us since 10 years, we haven't asked anyone to leave.'' He also talked about the recent debacles at the box office, he said, ''We are in the business, and hits and flops are a part of the business. I am already on to my next project. I am working on an animation series, which is going to be pitched on a mega scale.''

Vashu Bhagnani was also asked if his production house owes money to anyone as claimed by several media reports, he added, ''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.”

Pooja Entertainment was founded in 1986 and is best known for producing several Bollywood hits including Coolie No 1, Hero No 1, and Rehnaa Hai Terre Dil Mein, among others. 

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