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    Pooja Entertainment Denies Debt and Layoff Rumors Amid Office Redevelopment Plans

    Pooja Entertainment addresses rumors of debt and layoffs, with Vashu Bhagnani confirming the redevelopment of their Juhu office into luxury residences.

    Pooja Entertainment, owned by Vashu and Jackky Bhagnani, has recently grabbed headlines—for all the wrong reasons including massive Layoffs. The production banner has been in the news due to reports that the company has not paid its debts and that, to settle the deficit, it sold its seven-floor office building in Mumbai’s Juhu neighborhood.

    Additionally, according to reports, the corporation has let go of 80% of its employees. Vashu Bhagnani disputes such allegations in an interview with the Times of India, saying, “The building that people are talking about hasn’t been sold to anyone; it still belongs to me.” All we’re doing is rebuilding it as a tower with opulent residences.

    It was planned to happen 1.5 years ago. We planned to begin the redevelopment after Bade Miyan Chote Miyan was released, he continued.

    Are Layoffs Behind the Rumours?

    Speaking of staff layoffs, he continued, “We haven’t asked anyone to leave; we’ve had the same team working with us for ten years.” “We are in the business, and hits and flops are a part of the business,” he added about the recent box office fiascoes. Already, I’m working on my next endeavor. I’m developing an animated series that will be pitched to a large audience.

    When questioned about whether his production company owes money to anyone, as some media stories have stated, Vashu Bhagnani said, “I have been in the business for the past 30 years”. Those who assert that we owe them money ought to come out and speak with us. Are their contracts with Pooja Entertainment valid? Have they brought a case for this? Instead of venting on social media, there are a ton of other ways to resolve this. If something is wrong, we will fix it.”

    Established in 1986, Pooja Entertainment gained notoriety for creating multiple Bollywood songs, such as Hero No 1, Coolie No 1, and Rehnaa Hai Terre Dil Mein, among others.

    READ: DEEPIKA PADUKONE NAMED A GLOBAL DISRUPTOR 2024 TOGETHER WITH EVA LONGORIA AND UMA THURMAN

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