PVR Inox breaks silence on Vashu Bhagnani fallout reports, calls story 'misleading'

PVR Inox Pictures has denied recent reports claiming that it was preparing to initiate legal action against Vashu Bhagnani’s Puja Films over alleged financial disputes linked to a reported three film deal.

The clarification comes after media reports suggested that differences had emerged between the two companies regarding dues connected to an agreement said to be worth around Rs 100 crore.

Responding to the speculation, PVR Inox Pictures issued an official statement dismissing the claims and describing the reports as inaccurate. “We have noted a recent media report concerning PVRINOX Pictures and Mr. Vashu Bhagnani. The contents of the story are misleading and speculative in nature and do not accurately reflect the facts or the nature of the relationship between the parties,” the statement read.

The company further stressed that it shares a long standing professional association with the Bhagnani family and that all business discussions are handled directly between the concerned parties. “PVRINOX Pictures and the Bhagnani family share a longstanding and cordial professional relationship built over years of collaboration and mutual respect. As with any business partners, commercial transactions and discussions are conducted directly between the parties concerned in the ordinary course of business,” it added.

The statement also said that discussing details of commercial arrangements publicly would not be appropriate.

PVR Inox Pictures additionally acknowledged the role played by producer Jackky Bhagnani in managing matters between the two organisations. “We would also like to place on record our appreciation for Jackky Bhagnani's handling of all matters between the two companies. Jackky has consistently demonstrated professionalism and a deep commitment to carrying forward Vashu Ji's legacy,” the statement said.

The company further described its interactions with Jackky as constructive and collaborative and expressed its commitment to maintaining strong industry relationships.

It also urged media organisations and stakeholders to verify information carefully before drawing conclusions from unconfirmed reports. Soon after the statement was released, Puja Films shared it on Instagram and thanked PVR Inox Pictures for its support and remarks. The production house stated that it values its longstanding association with the company and looks forward to continuing its professional collaboration in the future.