Jackky Bhagnani addresses legal dispute between PVR Inox Pictures and Vashu Bhagnani: 'Entirely inaccurate'

Jackky Bhagnani has issued an official statement addressing reports that claimed PVR Inox Pictures was initiating legal proceedings against veteran filmmaker Vashu Bhagnani over alleged financial dues.

What's the controversy?

Reports were rife that the veteran filmmaker was staring at another legal flashpoint involving the cinema chain, PVR Inox Pictures, with a 3-film agreement with Vashu Bhagnani's production house, Pooja Entertainment.

Also Read: Hai Jawani Toh Ishq Hona Hai makers react to 'baseless allegations' made by Vashu Bhagnani: 'We are the owners of the songs'

As part of the alleged understanding, PVR Inox had reportedly paid Rs. 100 crore as a refundable advance to the production house and had agreed to release Mission Raniganj, Ganapath and Bade Miyan Chote Miyan. The understanding was that if the films failed to generate the expected results, Pooja Entertainment would refund the outstanding balance.

Also Read: Varun Dhawan’s Hai Jawani Toh Ishq Hona Hai sued for Rs 400 Cr by Vashu Bhagnani

Jackky Bhagnani shares a statement

Addressing the reports on June 1, Jackky Bhagnani took to social media to release a statement that read, "Over the decades, Pooja Entertainment has built a relationship with the media rooted in mutual respect, transparency, and a shared love for Indian cinema. We are incredibly grateful for the continuous support you have extended to our team throughout our journey."

Also Read: Vashu and Jackky Bhagnani's firm owes Rs 33 lakh to Mission Raniganj director: Report

The statement further clarified, "Recently, reports have circulated regarding alleged legal proceedings between PVR INOX Pictures and Pooja Entertainment. We wish to clarify that these reports are entirely inaccurate. PVR INOX Pictures has graciously issued an official clarification confirming that these claims do not reflect the reality of our strong professional bond."

Also Read: Hai Jawani Toh Ishq Hona Hai controversy: Producer Ramesh Taurani reacts to allegations by Vashu Bhagnani

Pooja Entertainment also expressed concern over the continued circulation of the reports and said, "While we deeply respect the fast-paced nature of digital news, the continued circulation of unverified stories in this case are causing harm to the stakeholders and the company's goodwill built over the years."