PVR Inox Pictures calls reports of initiating legal proceeding against Vashu Bhagnani 'misleading and speculative'
Mumbai, May 30
PVR Inox Pictures has denied the ongoing media reports about initiating any legal proceeding against filmmaker Vashu Bhagnani, calling the rumours "Misleading and Speculative."
As per few media reports PVR Inox pictures had paid Rs. 100 crore as a refundable advance to Vashu Bhaganani's production house and had agreed to release 'Mission Raniganj', 'Ganapath' & 'Bade Miyan Chote Miyan'.
As per their understanding, in case these films failed to generate the expected revenue, Puja Entertainment would pay back the outstanding balance. However, all the 3 films failed to perform at the box office.
PVR Inox Pictures is believed to have made repeated follow-ups for the recovery of the alleged outstanding amount of around Rs 50 crore.
However, on Saturday, the official handle of PVR Inox Pictures rubbished the rumours of any legal action, through a statement that read, "We've noted a recent media report about us and Mr. Vashu Bhagnani. The story is misleading and speculative - and does not reflect the facts or the nature of the relationship between the parties. PVR INOX Pictures and the Bhagnani family share a longstanding, cordial professional relationship built on years of collaboration and mutual respect."
They further stressed the good rapport between PVR and Jackky Bhagnani. "We also wish to appreciate Jackky Bhagnani's professionalism in all dealings between our companies - his commitment to carrying forward Vashu Ji's legacy has always been evident. Our interactions with him have always been constructive and collaborative, and we greatly value the positive relationship that we have built over the years," they added.
PVR Inox Pictures also urged the media outlets to refrain from spreading any unverified reports. "We remain committed to maintaining strong relationships with our industry partners and conducting our business with transparency and professionalism. We urge media outlets to exercise due diligence and refrain from drawing conclusions based on unverified reports," the statement concluded.
— IANS
Reader Comments
Respect to PVR Inox for handling this professionally instead of dragging it to court. The film industry runs on relationships and trust. Jackky Bhagnani seems to be doing a good job managing his father's legacy. Hope they recover the money amicably without spoiling their partnership.
Interesting move by PVR. They're basically signaling that they won't burn bridges despite a ₹50 crore loss. In Hollywood, studios would've had lawyers camped outside the production house. But the Indian film industry runs on personal connections and old-school trust. Smart PR strategy to maintain peace.
Honestly, who thought Bade Miyan Chote Miyan would be a hit? That film had disaster written all over it from the first trailer. PVR should have been more careful with their advances. They're a multiplex chain, not a production house. But yes, good that they're resolving this professionally rather than creating more negativity.
Classic corporate diplomacy. The denial is worded so carefully - "misleading and speculative" doesn't actually say they won't take legal action. Just says current reports are wrong. And they're clearly protecting Jackky Bhagnani's reputation while subtly putting pressure. Smart move but let's see what happens behind closed doors.
Really appreciate that PVR Inox is trying to maintain cordial relations. The film industry is tough enough without these disputes going public. Hope Vashu ji learns from this - making films on such big budgets without proper planning is risky. At least Jackky is handling things professionally. This is how mature businesses
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