Bollywood producer Vashu Bhagnani has recently addressed intense rumors of bankruptcy and non-payment of dues following the disappointing box office performance of his film, ‘Bade Miyan Chote Miyan’.
Setting the Record Straight
Bhagnani, a prominent figure in Bollywood since the 1990s, where he produced many hits with Govinda and David Dhawan, shared his distress over widespread speculation. He revealed how people claimed he was bankrupt, had sold his Juhu office, and even run away from the country.
In a recent interview, Bhagnani clarified that he is actually redeveloping his Juhu office into a 15-storey building. He highlighted his extensive real estate background, stating he has built and sold 45 buildings in Mumbai alone, emphasizing his business acumen.
The ‘Bade Miyan Chote Miyan’ Aftermath
His production banner, Pooja Entertainment, faced a major setback with ‘Bade Miyan Chote Miyan’, an action film starring Akshay Kumar and Tiger Shroff. The movie, reportedly made on a budget of Rs 300 crore, recovered only a third of that amount.
Bhagnani has accused the film’s director, Ali Abbas Zafar, of misappropriation of funds. Concurrently, he has been accused of not paying dues to various artists and crew members involved in the film and other projects.
Pushback on Payment Allegations
When questioned about whether the payment issues have been resolved, Bhagnani responded defiantly, stating, “Even if they haven’t, what’s your problem?” He expressed frustration, noting that people have started taking advantage of the situation, with some demanding inflated amounts.
He recounted an incident where he was recently threatened by someone demanding money, saying they would go to the media. Bhagnani insisted he has no connection with this person and views it as an attempt to blackmail.
A Family’s Ordeal and Industry Support
The producer admitted that the controversy took a heavy toll on his family. “They went through a lot, I salute them,” he said, describing how rumors plagued them at every turn.
He also expressed disappointment with the lack of support from the film industry, hoping someone from Bollywood would stand by him. Instead, a friend from the real estate sector encouraged him to explore opportunities in Dubai.
Ongoing Dues and Crew Woes
Reports from 2024 by The Indian Express indicate that Bhagnani still owes money to crew members from multiple projects, including ‘Mission Raniganj’, ‘Ganapath’, and ‘Bade Miyan Chote Miyan’. The Federation of Western India Cine Employees (FWICE) stated he owes over Rs 65 lakh.
Crew members have spoken of fear and gloom, worried about missing EMI payments. Some have even claimed extreme hardships, like selling houses or pleading for money from hospitals, highlighting the severe impact of unpaid dues.
- Vashu Bhagnani strongly denied bankruptcy rumors, stating he is redeveloping his office.
- He accused ‘Bade Miyan Chote Miyan’ director of fund misappropriation while facing his own allegations of non-payment.
- Bhagnani expressed frustration over payment demands and a lack of industry support.
- His family suffered significantly due to the rumors and controversies.
- Crew members are still awaiting payments for multiple Pooja Entertainment projects, leading to severe financial distress.
The veteran producer continues to navigate the aftermath of the ‘Bade Miyan Chote Miyan’ financial performance and the lingering accusations from those involved in his productions.
