Jackky Bhagnani Sells Pooja Entertainment’s Mumbai Office Amid Rs 250 Crore Debt: Report (image-Instagram/jackkybhagnani)

As per Bollywood Hungama, Jackky and father Vashu Bhagnani’s production banner Pooja Entertainment’s seven-floor office has been sold to clear off Rs 250 crore of debt. The news comes a day after numerous allegations of non-payment of salaries and unprofessional behaviour were raised by crew members on social media.

Cutting down operations after giving back-to-back box office bombs, the production house in Mumbai has reportedly been sold to a builder. The building is said to be demolished to create space for a luxurious residential plot, according to the Hindustan Times.

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According to media reports, Vashu has also sacked nearly 80 percent of employees and shifted the office space to a two-bedroom flat in Juhu. After struggling with kickstarting Jagan Shakti’s project starring Tiger Shroff, which eventually got shelved, the process of cutting down on its operations reportedly began in January this year.

As per the Hindustan Times, following the failure of Akshay Kumar’s Bell Bottom (2021), then Kumar’s Mission Raniganj (2023), and Shroff’s Ganapath (2023), things were on a downward spiral for the banner. But following the massive failure of Bade Miyan Chote Miyan (2024), starring Akshay Kumar and Tiger Shroff, which earned around Rs 59.17 crore compared to its high budget of nearly Rs 350 crore, the staff members of the production house were significantly reduced in April, as per media reports.

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The production banner is known for producing films such as Biwi No. 1, Coolie No. 1, Jawaani Jaaneman, Shaadi No. 1, and Rangrezz, among others.