4 min readNew DelhiJun 23, 2024 07:45 PM IST
When producer Vashu Bhagnani decided to make Bade Miyan Chote Miyan, starring Akshay Kumar and Tiger Shroff, he had high hopes for the film. Helmed by Ali Abbas Zafar, the actioner, made on a massive budget of Rs 350 crores, created a lot of buzz before its release but failed miserably at the box office. The film, produced by Bhagnani’s Pooja Entertainment, was a dud which caused the production house massive financial loss; it came on the back of earlier flops. Recent news reports indicate that Bhagnani sold his Mumbai office to pay off a Rs 250 crore debt. He also significantly reduced the production house’s workforce to recover from the financial losses. Nearly 80% of employees were let go, and the office was relocated to a two-bedroom flat in Mumbai, according to a report by Bollywood Hungama. The downsising began in January after a Tiger Shroff movie, which had struggled for two years to get a theatrical release, was shelved. The production house has not responded to the report.
“It all started with Bell Bottom, one of the first Hindi movies released in theatres post the COVID-19 pandemic in 2021. The film flopped badly at the box office, followed by another failure with Mission Raniganj. The company’s troubles continued when the big-budget Ganapath failed to perform and was rejected by Netflix despite an acquisition deal. Financial red flags had already appeared by this point, and the significant investment in Bade Miyan Chote Miyan worsened the situation. Despite hoping that the action film starring Akshay Kumar and Tiger Shroff would improve their financial standing, its historic failure almost crippled the company. Vashu had no choice but to sell the building to pay off the enormous debt,” a source familiar with the development told Bollywood Hungama.
Founded in 1986, Pooja Entertainment has produced around 40 films to date. The company achieved significant success with movies directed by David Dhawan, including Coolie No.1, Hero No.1, Biwi No.1, and Bade Miyan Chote Miyan, as well as critically acclaimed films like Rehnaa Hai Terre Dil Mein and Om Jai Jagadish. However, its success has been overshadowed by recent box office failures.
The production house encountered further difficulties after Bade Miyan Chote Miyan flopped at the box office, earning just Rs 59.17 crores despite a Rs 350 crore investment.
Previously, Pooja Entertainment faced criticism for delayed payments to several crew members, with many taking to Instagram to voice their grievances. Vaishnavi Palikar, who worked with the production house, wrote on her Instagram Story, “I did a movie 2 years ago with a very well-known production house. Me, along with at least 100 crew members, are awaiting our payments (2 months’ salaries) since 2 years. Meanwhile, actors have been paid immediately because they are ACTORS. None of the producers have an answer to our question: Where is my hard-earned money? Most importantly, when can I get my hard-earned money?”
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Ruchika Kamble, who shared Palikar’s story, slammed Bhagnani, Jackky, and Deepshika Deshmukh for not paying the employees, highlighting that during the making of their film, they should realize that the film is going over budget. “The production house in question is @pooja_ent. The producers are @jackkybhagnani, @vashubhagnani, and @deepshikhadeshmukh. Why shy away from tagging them? At every stage of making the film, when the producers realize the movie is going over budget yet take the decision of filming it but deny the crew their money, quoting all the money is exhausted, it is nothing less than harassment. Such unethical and unprofessional behavior doesn’t need to be protected. We need to tag them and at least warn the rest of the people to stay away from this production house
(sic),” she urged.
Vashu Bhagnani's latest production Bade Miyan Chote Miyan bombed in theatres. (Photo: Screengrab, PR handout)