By Neeraj Gupta And Rajnandani Sharma, London
Film producer Vashu Bhagnani has recently addressed certain reports of alleged financial issues linked to his film 'Bade Miyan Chote Miyan' and purported real estate transactions.
Denying social media claims of financial mismanagement and asset liquidation, Bhagnani underscored the integrity of his business operations while outlining his future plans in an exclusive interview with ANI.
Responding to allegations surrounding the fate of his properties, post the film's performance, Bhagnani firmly stated, "Speaking bad about people can be done by anybody, the allegations regarding my building are absolutely false."
He emphasized that the building in question, Pooja Luminaire, situated in Juhu, Mumbai, remains intact and is being expanded, reaffirming his commitment to upscale the property despite delays caused by the film's release schedule.
"There is truth in this. Bade Miyan Chote Miyan flopped. It is a part of our business, you know. Nothing to do with what building to buy. I passed this building 15 months ago and I have shown its papers," he said adding, "This building is being demolished and it is becoming double in size from a single building. Now it will be 15 storeys."
Highlighting his extensive experience in the construction industry, Bhagnani emphasized that this is not his first building venture but rather his 45th. He clarified that his involvement extends beyond the film business, including distribution, building construction, and other endeavours.
Bhagnani suggested that the rumours and allegations may stem from a lack of knowledge about his diverse business interests, stating, "This is the 45th building. Now people don't know my nature. I don't want to talk about the industry. I don't just do film business, I do distribution, I build buildings, I do construction. And no one knows about me because I have never put up a website, and I have never done marketing."
Addressing the collaborative nature of 'Bade Miyan Chote Miyan,' Bhagnani acknowledged the involvement of Ali Abbas Zafar, Himanshu Mehra, Jackky Bhagnani, and Vashu Bhagnani in the film's production.
He emphasized that the allegations may arise due to miscommunication and stated, "People are starting to put allegations because there is a huge gap in communication."
Bhagnani, a businessman with work spanning three decades in the industry, expressed frustration over what he perceives as baseless rumours affecting his reputation.
"I am a businessman. It has been 30 years since I started doing business. I know why they make films, why they build buildings," he asserted, highlighting his extensive portfolio that includes iconic films such as 'Coolie No. 1,' 'Hero No. 1,' and 'Biwi No. 1.'
Expressing his dedication to Indian development and culture, Bhagnani recalled his ambitious project, 'Mission Rani Ganj,' which involved creating a village on 100 acres of land in the UK. "I brought over 300-400 people from India, providing them with employment and support," he shared, underscoring his commitment to fostering opportunities for Indian talent globally.
Regarding allegations of employee layoffs within Pooja Entertainment and other affiliated companies, Bhagnani clarified, "If even one of my employees had issues, they could have approached me directly. Those who have been with me for 10-20 years remain with me," rebutting claims of mass dismissals.
He affirmed his commitment to expanding his workforce as business demands grow, pointing out ongoing operations at his Mumbai studio.
He said that his son film producer Jackky Bhagnani has almost made a full plan of three to five films already.
Addressing concerns about financial transparency and ongoing projects, Bhagnani revealed plans for future film ventures and international expansion, including an ambitious animation project set to tap into the digital market by 2025-2026.
He also disclosed his involvement in significant overseas construction projects, highlighting his dedication to promoting Indian talent and culture abroad.
Bhagnani also expressed gratitude for the industry support received during recent controversies, noting phone calls from prominent figures like Sunny Deol, Suniel Shetty, and Akshay Kumar.
In conclusion, Bhagnani reiterated his resilience in the face of adversity, stating, "I am not taking loans from anyone. I am paying people; people are not paying me."
He emphasized that his business decisions are driven by a passion for both filmmaking and real estate development, asserting his intent to continue contributing to the industry's growth despite challenges.