'Misleading reports': PVR INOX denies financial dispute with Vashu Bhagnani
What's the story
PVR INOX Pictures has denied reports of a financial dispute with producer Vashu Bhagnani and his banner, Pooja Entertainment. The cinema exhibition and distribution company called the claims "misleading and speculative" in a statement. The clarification comes after Bollywood Hungama reported that PVR INOX was considering legal action over unpaid dues from a nearly ₹100 crore multi-film deal with Bhagnani's production house.
Statement
We have cordial relationship with Bhagnanis: PVR INOX
PVR INOX Pictures stressed that its relationship with the Bhagnani family remains positive "PVRINOX Pictures and the Bhagnani family share a longstanding and cordial professional relationship built over years of collaboration and mutual respect," the company said in its statement. The controversy arose after Bollywood Hungama claimed that PVR INOX entered a distribution deal with Pooja Entertainment for Mission Raniganj, Ganapath, and Bade Miyan Chote Miyan. However, all the films underperformed, leading to significant financial losses.
Business as usual
Commercial negotiations are routine part of business: Statement
PVR INOX Pictures reiterated that commercial negotiations between business partners are a routine part of the entertainment industry. "As with any business partners, commercial transactions and discussions are conducted directly between the parties concerned in the ordinary course of business," they said. "We do not believe it is appropriate to discuss the details of any commercial arrangements in the public domain."
Acknowledgment
Statement acknowledged Jackky Bhagnani's role in matters
The statement also included an unusual public acknowledgment of actor-producer Jackky Bhagnani, son of Bhagnani. "We would also like to place on record our appreciation for Jackky Bhagnani's handling of all matters between the two companies," it said. "Jackky has consistently demonstrated professionalism and a deep commitment to carrying forward Vashu Ji's legacy. Our interactions with him have always been constructive and collaborative."
Legal dispute
Meanwhile, Pooja Entertainment is fighting this legal battle
Pooja Entertainment is currently engaged in a major legal battle with Tips Industries and David Dhawan over music rights for their upcoming film, Hai Jawani Toh Ishq Hona Hai. The production house recently filed a ₹400 crore lawsuit against them for allegedly using two songs from the 1999 hit film Biwi No. 1 without proper rights. The film is scheduled for a June 5 release.