Pooja Entertainment, helmed by producer Vashu and Jackky Bhagnani has been through a rough patch following a string of films that under performed at the Box Office. The latest however, in the complex web of financial controversies involving the production house, is an ugly legal tussle with streaming giant, Netflix. Bhagnani has sued Netflix for cheating and non-payment of dues to the tune of nearly 47.37 crores. Even as Netflix issued a denial and claimed that it is Pooja Entertainment that owes them money, the case, now under investigation by the Economic Offences Wing, seems to be stacked in the favour of Bhagnanis, owing apparently to non-cooperation from Netflix India.
Also read: Bade Miyan Chote Miyan producers accuse director Ali Abbas Zafar of siphoning funds; file complaint
Speaking exclusively to HT, the investigating officer on the case, Senior Inspector Ravindra Avhad, says, “This amount of ₹47.37 crores is what Netflix owes to the complainant Vashu Bhagnani. But Netflix is not cooperating. We sent them two summons, but they are not appearing. They haven’t replied to the letter sent to them by us. Bhagnanis came to us in April, we recorded their statements, collected the required documents. Netflix asked for some time, but aaye hi nahi. Lower level ke staff ko bhej dete hain statement ke liye, but it is Monica Shergill (Content Head, Netflix India) who should appear.” When asked about Netflix’s counter claim on Bhagnanis as per their media statement, he adds, “I am not aware about what statement Netflix has issued, but aisa kuchh nahi hai.”
Netflix shared the same media statement with us when we reached out to them, “These claims are completely unfounded — indeed it’s Pooja Entertainment that owes Netflix money. We have a strong track record of partnership with the Indian creative community and are working with the authorities to resolve this dispute.”
Vashu Bhagnani, says “We registered the case against Netflix in April. We have full faith in the EOW to resolve the matter.”
The Context
Vashu Bhagnani, in his complaint filed in April 2024, claimed that Netflix ‘conspired against the rights’ of his three films – Hero No 1 (yet to be fully shot), Mission Raniganj and Bade Miyan Chote Miyan. He filed a complaint against Los Gatos Production Services India, through which Netflix reports its content investments in India, Zoo Digital India and against executives of both companies. Netflix, in its response, issued a spokesperson statement on Wednesday. (See box).
Meanwhile, a source privy to the developments in the case tells us on condition of anonymity, “Bhagnanis have been in the industry for over 40 years, and right now they feel the entire industry is not supporting them through their rough patch. While they have suffered heavy losses, their last film’s director (Ali Abbas Zafar; Bade Miyan Chhote Miyan) has taken over 14 crores of their money, for which they have lodged a police complaint. They are willing to repay everyone’s pending dues, at least they should get their dues first in order to do it.”
