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| Jackky Bhagnani is said to be selling a part Pooja Entertainment of office to pay off loan |
Pooja Entertainment, the production company owned by Jackie Bhagnani, is having financial difficulties. A builder is said to have purchased the company's office, according to reports.
Jackky Bhagnani, an actor and producer, is currently having financial difficulties. His production firm, Pooja Entertainment, has been under fire lately for allegedly underpaying its employees. Another significant development in this case is now emerging. Media sources state that Pooja Entertainment's Mumbai office was sold due to financial difficulties. It is believed that the Rs 250 crore loan would be paid back when the seven-story office is sold. Let us inform you that Jackky Bhagnani and his father Vasu Bhagnani are the owners of Pooja Entertainment. . It is being said that now the work of this office will be done in a two-room flat in Juhu.
Seven-storey office sold to builder
If reports are to be believed, Jackky's father has sold this seven-storey office to a builder. However, no information has been received about how much money this deal was made for and with which builder. There is also a discussion that the office will be demolished and work will be done on the residential project.
'Bade Miyan Chote Miyan' gave a big blow
The previous several films produced by Pooja Entertainment had not done well at the box office. Following the box office failure of the last movie, "Bade Miyan Chote Miyan," the workforce was whittled down in April. The movie, which had a budget of Rs 350 crore but made, reportedly, just Rs 59.17 crore, caused the firm to incur a significant loss. Bell Bottom, Mission Raniganj, and Ganpath, three films produced by the same firm, were box office failures as well.
Are actors demanding more money than they bring back to the table?
Where several big-budget Bollywood films like Bade Miyan Chote Miyan to Maidaan failed at the world box office, several small-budget films like Laapataa Ladies and 12th Fail have been superhits. Moreover, the crisis also highlights another important fact that how much nowadays actors and his or her team demands and how much they bring back to the filmmakers are not in sync. Film Trade Analyst Sumit Kadel also highlighted the issue in his latest tweet. "The film industry is facing a crisis. Movies that should cost 60-70 cr are being made for 120-150 cr due to exorbitant star fees, director fees, and overhead costs.
Meanwhile, regional industries are producing films of equal or better quality for a fraction of the cost (20-40 cr). If this trend continues, many production houses and distributors will be forced to shut down. It's time for a major correction in the Hindi Film industry to ensure sustainability and profitability," read his caption.
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