Veteran producer Vashu Bhagnani on Tuesday said the building that he owns is undergoing redevelopment and has not been sold off to clear off debt as reported in the media. Vashu Bhagnani had recently backed the big-budget action movie Bade Miyan Chote Miyan , starring Akshay Kumar and Tiger Shroff, alongside son Jackky Bhagnani and daughter Deepshikha Deshmukh under their banner. There were reports that Juhu-based office premises of Pooja Entertainment were sold to settle a debt of Rs 250 crore.
The production house was also accused of non-payment of dues and laying off the majority of its staff. Addressing the reports, Vashu Bhagnani in a media statement said: "The building (office space) that people are talking about hasn’t been sold to anyone, it belongs to me even now. We are only redeveloping it into a tower that will house luxury homes.
This was planned 1.5 years ago. I was waiting for Bade Miyan Chote Miyan to release after which we wanted to start the redevelopment.
" The producer, who has begun production on a big-scale animation series, also dismissed reports of laying off his staff. "We've had the same team working with us for 10 years, we haven’t asked anyone to leave," added Vashu Bhagnani, known for backing 1990s and 2000s hits such as Coolie No 1 , Pyaar Kiya To Darna Kya , and Mujhe Kucch Kehna Hai . ALSO READ: ‘Bade Miyan Chote Miyan’ movie review: Akshay and Tiger jest and joust in this loud and clear mass entertainer Besides Bade Miyan Chote Miyan , .