Mumbai: Vashu Bhagnani Alleges ₹250 Crore Fraud by Netflix’s Head of Hindi Film Licensing
Mumbai: Indian film producer Vashu Bhagnani has alleged a ₹250 crore fraud by Netflix's Head of Hindi Film Licensing. The Economic Offences Wing (EOW) is currently investigating the case, and Vibha Chopra, the accused, has been questioned multiple times.
Vashu BhagnaniNetflixFraudEconomic Offences WingHindi Film LicensingReal Estate MumbaiOct 09, 2024
Bhagnani’s complaint alleges that Vibha Chopra, who has been serving as the Head of Hindi Film Licensing at Netflix since October 2023, has withheld his payments by making unauthorized amendments to their contract. According to the information provided by EOW officials, Bhagnani entered into a contract with Netflix in September 2022 to produce three films. However, certain modifications to the contract in 2022 led to the withholding of Bhagnani’s payments, amounting to ₹250 crore.
On September 7, Vibha Chopra recorded her statement with the EOW for 6 hours. The following day, on September 8, EOW officers questioned her again for around 3 hours. During her second interrogation, Chopra submitted soft copies of relevant documents. However, the investigation is ongoing, and EOW officials have stated that Chopra will be called for questioning again.
Vibha Chopra appeared before the EOW on Tuesday at 3 PM and left around 6 PM. During her statement, she claimed that she has been serving as the Head of Hindi Film Licensing at Netflix since October 2023. The EOW is currently conducting a detailed investigation to determine the validity of Bhagnani’s allegations and the nature of the alleged amendments to the contract.
This case has drawn significant attention within the Indian film industry, as it involves one of the largest streaming platforms and a prominent producer. The outcome of the investigation is expected to have implications for the future of film production and licensing agreements in the industry.
Information on Netflix
Netflix is a leading streaming entertainment service, offering a wide range of TV shows, documentaries, and films. The company has expanded its presence in India by investing in local content production and licensing. Netflix’s Head of Hindi Film Licensing, Vibha Chopra, plays a crucial role in overseeing the acquisition and licensing of Hindi films for the platform.
Information on Vashu Bhagnani
Vashu Bhagnani is a well-known Indian film producer and the founder of Pooja Entertainment. He has produced several successful films and has been a significant figure in the Indian film industry for over two decades. Bhagnani’s production house, Pooja Entertainment, has collaborated with various filmmakers and actors to create popular Hindi films.
The allegations of fraud have raised questions about the transparency and integrity of business practices in the film industry. As the investigation progresses, both Netflix and Bhagnani’s legal representatives are expected to provide more details and clarifications.
FAQs
1. What is the amount of the alleged fraud?
- The alleged fraud amount is ₹250 crore.
2. Who is Vashu Bhagnani?
- Vashu Bhagnani is an Indian film producer and the founder of Pooja Entertainment. He is known for producing several successful Hindi films.
3. Who is Vibha Chopra?
- Vibha Chopra is the Head of Hindi Film Licensing at Netflix, responsible for overseeing the acquisition and licensing of Hindi films for the platform.
4. When was the complaint filed?
- The complaint was filed with the Economic Offences Wing (EOW) of the Mumbai Police in April 2023.
5. What is the current status of the investigation?
- The investigation is ongoing, and Vibha Chopra has been questioned multiple times. The EOW is conducting a detailed investigation to determine the validity of the allegations.
Frequently Asked Questions
What is the amount of the alleged fraud?
The alleged fraud amount is ₹250 crore.
Who is Vashu Bhagnani?
Vashu Bhagnani is an Indian film producer and the founder of Pooja Entertainment. He is known for producing several successful Hindi films.
Who is Vibha Chopra?
Vibha Chopra is the Head of Hindi Film Licensing at Netflix, responsible for overseeing the acquisition and licensing of Hindi films for the platform.
When was the complaint filed?
The complaint was filed with the Economic Offences Wing (EOW) of the Mumbai Police in April 2023.
What is the current status of the investigation?
The investigation is ongoing, and Vibha Chopra has been questioned multiple times. The EOW is conducting a detailed investigation to determine the validity of the allegations.
Related News Articles
Aadhar Housing Finance Eyes Sustained Growth of Over 20% in Disbursements and Asset Base
Aadhar Housing Finance projects disbursements and assets under management to grow at over 20% this year
No Reversal on Real Estate LTCG Tweaks: Government Stands Firm
Government sources have confirmed that there will be no reevaluation of the changes made to Long Term Capital Gains tax (LTCG) in the Union Budget, despite concerns over the removal of Indexation benefit on property sales.
Navigating the Industrial REIT Landscape: A SWOT Analysis of EastGroup Properties
EastGroup Properties, a real estate investment trust (REIT) specializing in industrial properties, is at a crossroads in the ever-evolving industrial REIT landscape.
Godrej Group Makes Major Move in Mumbai Real Estate by Acquiring Land for Rs 81 Crore
In a strategic move, Godrej Group, through its real estate subsidiary Anamudi Real Estates, has acquired a significant plot of land in the bustling city of Mumbai for Rs 81 crore. This acquisition marks a major step in the company's expansion plans in one
Why Pattaya is the Next Big Thing for Indian Property Investors
A luxury sea-view condo in Pattaya costs as much as a mid-range apartment in Mumbai. Discover why Pattaya is quickly becoming a hot spot for Indian property investors, offering exceptional value and potential returns.
Akshaya Tritiya: Can It Spark a Surge in Real Estate Demand?
With reduced EMIs making home loans more affordable, Akshaya Tritiya could be the catalyst for a surge in real estate demand, especially in the luxury and high-end market segments.