Jackky Bhagnani Sells Pooja Entertainment's Juhu Office To Pay Off ₹250 Crore Debt: Report

Many crew members accused Pooja Entertainment of not clearing their debts timely. As per Bollywood Hungama reports, the production house has been sold the Mumbai office to clear off Rs 250 crore debt amid the growing financial hassles.

Following the box office failure, Pooja Entertainment has cut down it's operations. Jackky Bhagnani's father Vashu Bhagnani runs the production banner. According to trade sources, Vashu has sold the office to a builder. However, the dealer's identity and the pricing is not revealed.

As per the reports, they plan to create a luxurious residential development in place of the office. It is also suggested that Vash reduce almost 80 per cent of the staff and move the office to two bedroom flat in Juhu.

While in January 2024, the process began to cut down after Jagan Shakti’s film featuring Tiger Shroff, was shelved. On the other hand, by April the staff was reduced after Akshay Kumar and Tiger Shroff starrer Bade Miyan Chote Miyan failed at the box office.

Reportedly, it was created with a budget of ₹350 crore, and earned ₹59.17 crores. Reports stated, “Vashu has sold the building to pay off debts to multiple financiers, amounting to approximately Rs. 250 crore”.

A source revealed, “It all started with Bell Bottom, which was one of the first Hindi movies to be released in theatres post the COVID-19 pandemic in 2021. The film flopped badly at the box office and so 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. Red flags had already begun to appear in the company's financial sheet by this point, and the enormous investment in Bade Miyan Chote Miyan made matters worse."

Speaking about the same, an insider revealed, “Even still, the firm held out hope 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 almost crippled the company. Vashu had no choice but to sell the building to pay off the enormous debt”.

Reports claim that Vashu and Jackky are engaged in restarting operations and “have already started discussions with actors and directors for a fresh slate of movies”.

A chew member Ruchita Kamble took to social media and shared a long post, in which she revealed the reason for not working with Pooja Entertainment.

“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," she wrote in the post.