A well-known Bollywood production house, reports say, has nearly gone out of existence. Pooja Entertainment, which is known for blockbusters such as 'Coolie No. 1' (1995), 'Hero No. 1' (1997), among others, is in deep financial mess. The banner has also produced 'Bade Miyan Chote Miyan' (1998) and many other big-ticket Hindi films
As per Bollywood news media, producer Vashu Bhagnani has sold off his banner's seven-floor office in Mumbai to repay a debt close to the tune of Rs. 250 Cr. He has also laid off 80% of his employees.
The desperate step has been taken in view of some recent disasters produced by Pooja Entertainment.
The banner received a huge jolt with the failure of the recent Akshay Kumar-Tiger Shroff movie, 'Bade Miyan Chote Miyan'. As per reports, its budget was nearly Rs 300 Cr but it ended up making just Rs 60 Cr at the box-office.
By the way, Vashu Bhagnani is the father-in-law of Rakul Preet Singh. The actress recently married Jackky Bhagnani, Vashu's son.
