Vashu Bhagnani caused a stir as he sold his Mumbai office building to a builder after being accused of not paying the crew for the last two years. Here's all you need to know about the ace producer.
Vashu Bhagnani is a famous name in the Indian Entertainment industry. Having been in the industry for over three decades, Vashu has delivered some of the biggest hits of Bollywood, like Coolie no. 1, Hero no. 1, Bade Miyan Chote Miyan, and others. While Vashu Bhagnani was one of the most acclaimed producers of the 90s and 2000s, his company could not stand the test of time and is currently in debt of Rs. 250 crore.
Vashu Bhagnani was born in Kolkata, where he started his career as a builder after getting his formal education. For quite a few years, he worked in the construction industry. After a few years, Vashu established his own production house and named it after his wife, Pooja. The first movie made by the production house was Coolie No. 1, and it was a massive success.
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After this Vashu delivered several hits like Coolie No. 1 (1995), Hero No. 1 (1997), Bade Miyan Chote Miyan (1998), Mujhe Kucch Kehna Hai (2001), Rehnaa Hai Terre Dil Mein (2002), Om Jai Jagadish (2002), Shaadi No. 1 (2005), Kal Kissne Dekha (2009) and F.A.L.T.U among other. Vashu's production house did great for the first few years, but in the 2000s, they started experiencing flops as one after their other movies tanked at the box office.
In 2009, Vashu Bhagnani launched his son, Jackky Bhagnani, with the sci-fi movie, Kal Kissne Dekha. Unfortunately, this did not go well at the box office. After this, Pooja Entertainment funded many of Jackky's movies like F.A.L.T.U, Ajab Gazabb Love, and more. But none of the films did well at the box office, and Jackky finally shifted to help his father, Vashu in the business and took over the responsibility of Pooja Entertainment.
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Vashu Bhagnani is one of the wealthiest film producers in India. According to multiple reports on the web, his net worth is around USD 330 million, which, when converted to Indian currency, is Rs. 2,500 crore. However, Vashu Bhagnani recently suffered a major blow that forced him to sell his Mumbai office. Many workers accused Pooja Entertainment of not paying them for the last two years, and many even sent the company legal notices.
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After facing such financial difficulties, Vashu Bhagnani sold his Mumbai office to a builder, and the property will soon be demolished. The builder is reportedly planning to construct a luxury residential project in the space. However, Vashu Bhagnani is not shutting down Pooja Entertainment and will continue producing movies. Vashu's next project is Shahid Kapoor starrer Ashwatthama, which they announced just a few months back.
Vashu Bhagnani's resilience and never-give-up attitude are truly remarkable. Let us know your views on the same.
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