Mumbai, May 30 (IANS) PVR Inox Pictures has denied the ongoing reports of initiating any legal proceeding against filmmaker Vashu Bhagnani, calling the rumours “Misleading and Speculative.”
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
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