Madhu Mantena buys Anurag Kashyap, Vikramditya Motwane, Vikas Bahl's shares in Phantom Films

Phantom Films is now a joint venture between Madhu Mantena's company and Reliance Entertainment. It was embroiled in controversy during India's MeToo movement.

Almost three years after they announced an end to their joint production venture, Anurag Kashyap, Vikas Bahl and Vikramaditya Motwane have officially exited Phantom Films. Their partner Madhu Mantena is reported to have bought their shares in the production company.

When they worked and celebrated together.(Instagram)

The shares of Anurag, Vikramaditya and Motwane, - 12.5% each, have been bought by Madhu. Phantom Films is now a Joint Venture between Madhu's new company Mad Man Ventures and Reliance Entertainment, both parties holding 50% stakes. Earlier, it was a joint venture between Madhu-Kashyap-Motwane-Bahl (50%) and Reliance Entertainment (50%).

A Times of India report quoted a source as saying, "One thought it was all over for Phantom Films as a brand but Madhu had ideas to keep it alive. He got in touch with Kashyap, Motwane and Bahl and expressed an interest to buy their stakes. The three of them agreed, the modalities were worked out quickly, the deal was made amicably." Madhu has also confirmed the development.

Founded in 2011, Phantom Films has produced many Bollywood films like Queen, Masan, Lootera, Udta Punjab and the likes. It was one of a kind production house with directors in the lead.

Putting an end to speculations Vikramaditya, Anurag and Madhu had shared the news of a healthy end to their journey. Vikramaditya had shared, “Vikas, Madhu, Anurag and I have decided to dissolve our partnership in Phantom and go our separate ways. It’s been the craziest, greatest journey and the most wonderful partnership of my life. My three partners have been my family through thick and thin and I can’t thank them enough for their love and support for the past seven years. I wish them nothing but the best on their individual journeys from here on and hope our paths will cross again in better times.”

Vikas, who was accused of sexual harassment by a former employee of Phantom Films in 2018 and had accused Anurag and Vikramaditya of orchestrating a campaign against him, in order to pin the blame of dismantling the production house. Vikas was later cleared of all charges after an internal probe by Reliance Entertainment.

Anurag had tweeted about the end of Phantom Films in 2018, "And all dreams come to an end. We did our best and we succeeded and we failed, but I know for sure we are all stronger and wiser and will continue to pursue our dreams in our own individual ways."

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