Exclusive! Producer Vashu Bhagnani on non-payment of dues and selling off his office space to clear debts

Since the last few days, Pooja Entertainment, the production house run by Vashu Bhagnani and son Jackky Bhagnani, which has produced films like Bade Miyan Chote Miyan, Bell Bottom, Mission Raniganj and Ganapath among others, has been in the news over non-payment of dues. It was reported that Vashu sold off his seven-floor office space in Juhu, to pay off his Rs 250 crore debt.The same reports also stated that Vashu has laid off 80 per cent of his staff.
Talking to us from London, Vashu Bhagnani said, “The building (office space) 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.”
While the office space is being redeveloped, his team now works out of their old office which he says has been “lucky” for him. Denying reports that also claim he has laid off 80 per cent of his staff, Vashu says, “We’ve had the same team working with us since 10 years, we haven’t asked anyone to leave.”
Many reports stated that the debacle of the Akshay Kumar and Tiger Shroff starrer, Bade Miyan Chote Miyan was a final blow for his production house, which has seen a string of flops at the box office like Bell Bottom, Mission Raniganj and Ganapath in recent times. “We are in the film 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,” he says.

Ask him if his production house owes money to anyone as being reported and he says, “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.”
He adds, “I am also into other businesses, but what I’m most passionate about is making movies and I will continue doing that.”