The shares of Kashyap, Motwane and Bahl, who in any other case would have continued to carry and luxuriate in a 12.5 per cent share every, have been purchased by Madhu Mantena. So, hereafter, Phantom Movies will probably be a JV (Joint Enterprise) between Madhu Mantena’s new firm Mad Man Ventures and Reliance Leisure, each events holding 50 per cent. Earlier, it was a JV between Madhu-Kashyap-Motwane-Bahl (50 per cent) and Reliance Leisure (50 per cent).
So, how did all of it occur? A supply says, “One thought it was throughout for Phantom Movies as a model however Madhu had concepts to maintain it alive. Madhu obtained in contact with Kashyap, Motwane and Bahl and expressed an curiosity to purchase their stakes. The three of them agreed, the modalities had been quick labored out, the dealing was applied and accomplished amicably.”
When contacted, Madhu Mantena confirmed the story.
Established in 2013, Phantom Movies produced many films- ‘Lootera’, ‘Queen’, ‘NH 10’, ‘Bombay Velvet’, ‘Shaandaar’, ‘Manmarziyaan’ amongst others. Reliance Leisure picked up 50 per cent stakes in it in March 2015. After Kashyap, Motwane, Bahl and Mantena went separate methods two years in the past, two initiatives of Phantom Movies noticed the sunshine of day- ‘Tremendous 30’, ‘Sacred Video games’. One enterprise ’83 stays to be launched. All three had been arrange and locked previous to the break up.