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PVR Inox Pictures denies taking legal action against Vashu Bhagnani over alleged unpaid dues: ‘Misleading report’
PVR Inox Pictures has reacted to the reports which claimed they are planning legal action against producer Vashu Bhagnani.
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Producer Vashu Bhagnani has been creating headlines of late, due to the legal tussle with the makers of Hai Jawani Toh Ishq Hona Hai. But on Saturday morning, there was buzz about Vashu finding himself in trouble with PVR INOX Pictures.
It started because of a report, in which a source was quoted saying, "PVR Inox Ltd, which also has a distribution arm PVR Inox Pictures, had entered into a three-film arrangement with Vashu Bhagnani’s production house, Puja Entertainment. As part of the understanding, PVR Inox Pictures had reportedly paid around Rs. 100 crores as a refundable advance to Puja Entertainment and agreed to release Mission Raniganj, Ganapath and Bade Miyan Chote Miyan. The understanding was that if the films failed to generate the expected results, Puja Entertainment would refund the outstanding balance.”
The source continued, “However, all three films failed to meet box office expectations, folding around Rs. 100 cr. at the India box office. Following this, PVR Inox Pictures is said to have made repeated follow-ups for recovery of the alleged outstanding amount."
PVR INOX Pictures was even said to be allegedly contemplating legal action against Vashu. However, by evening, PVR Inox had issued a statement on X, denying everything. In the statement, they wrote, “We have noted a recent media report concerning PVRINOX Pictures and Mr. Vashu Bhagnani. The contents of the story are misleading and speculative in nature and do not accurately reflect the facts or the nature of the relationship between the parties. PVRINOX Pictures and the Bhagnani family share a longstanding and cordial professional relationship built over years of collaboration and mutual respect. As with any business partners, commercial transactions and discussions are conducted directly between the parties concerned in the ordinary course of business. We do not believe it is appropriate to discuss the details of any commercial arrangements in the public domain.”
