Jackky Bhagnani Sells Pooja Entertainment’s Juhu Office to Settle 250 Crore Debt : Reports
In a significant move to address mounting financial issues, Jackky Bhagnani’s father, Vashu Bhagnani, has reportedly sold Pooja Entertainment’s office in Juhu to a builder. The specifics of the buyer and the transaction amount remain undisclosed. This decision follows numerous accusations from crew members about the production house’s delays in settling debts. Bollywood Hungama reports indicate that the sale aims to clear a substantial 250 crore debt amid increasing financial strain.
Following a series of box office failures, Pooja Entertainment has scaled back its operations considerably. Sources reveal that Vashu Bhagnani has sold the office to a developer with plans to construct a luxury residential complex on the site. Reports also suggest that the company plans to reduce its staff by nearly 80% and relocate to a smaller, two-bedroom flat in Juhu. The downsizing process reportedly began in January 2024, following the shelving of Jagan Shakti’s film starring Tiger Shroff. By April, further staff reductions were made after the underperformance of “Bade Miyan Chote Miyan,” which featured Akshay Kumar and Tiger Shroff.
Despite a hefty budget of 350 crore, “Bade Miyan Chote Miyan” managed to earn only 59.17 crores. Sources state, “Vashu has sold the building to settle debts owed to various financiers, totaling around 250 crore.” An insider revealed, “The financial troubles began with ‘Bell Bottom,’ one of the first Hindi films released post the COVID-19 pandemic in 2021, which performed poorly at the box office. Subsequent releases, including ‘Mission Raniganj’ and the big-budget ‘Ganapath,’ also failed to perform, with the latter being rejected by Netflix despite a planned acquisition deal. The company’s financial struggles were exacerbated by the substantial investment in ‘Bade Miyan Chote Miyan.’”
Another source shared, “The firm had high hopes that the Akshay Kumar and Tiger Shroff starrer would improve its financial situation. However, the historic failure of this Ali Abbas Zafar directorial almost crippled the company. Vashu had no option but to sell the office building to pay off the massive debt.” Despite these setbacks, Vashu and Jackky Bhagnani are reportedly working on restarting operations and are in discussions with actors and directors for a new slate of films.
In a social media post, crew member Ruchita Kamble expressed her frustration with Pooja Entertainment’s unprofessionalism. She wrote, “Not the 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 behaviour that we all have been tolerating for way too long.”
