Adar Poonawalla acquires 50% stake in Karan Johar's Dharma Productions for Rs 1000 Cr
Mumbai: Adar Poonawalla, billionaire CEO of Serum Institute of India (SII), has acquired a 50% stake in Karan Johar's Dharma Productions, one of the country's leading film production houses. The deal, valued at Rs 1000 crore, will see Poonawalla's Serene Production acquire a 50 percent stake in the production house, with Johar retaining the remaining 50 percent.
Talking about the partnership, Adar Poonawalla said, "I am delighted to have the opportunity to partner with one of the most iconic production houses in our nation, along with my friend Karan Johar. We hope to build and grow Dharma and scale even greater heights in the years to come."
Karan Johar, Executive Chairman of Dharma, emphasised that Dharma Productions has been synonymous with heartfelt storytelling that captures the essence of Indian culture. “My father dreamed of creating films that would leave a lasting impact, and I've dedicated my career to expanding that vision. Today, as we join forces with Adar, a close friend and an exceptional visionary and innovator, we're poised to elevate Dharma's legacy to new heights. This partnership represents a perfect blend of our emotional storytelling prowess and forward-thinking business strategies,” he said.
The prominent Bollywood producer and filmmaker also mentioned that this collaboration opens up new possibilities for creating content that resonates across borders and generations. Karan Johar will continue to serve as Executive Chairman and creative head, while Apoorva Mehta remains the CEO of Dharma Productions.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Chhattisgarh coal levy scam: Rs 4 crore assets of suspended IAS officer attached
Raipur (PTI): The Economic Offences Wing (EOW) has attached properties of Rs 4 crore belonging to suspended IAS officer Sameer Vishnoi, an accused in a coal levy scam, for allegedly amassing assets beyond his known sources of income, officials said.
The EOW had registered a disproportionate assets case against Vishnoi in July 2024, an official release said on Saturday.
During the investigation, the agency identified nine immovable properties, valued at around Rs 4 crore, allegedly acquired through illicit means in the names of Vishnoi’s family members and associated firms, it said.
“An application seeking attachment of these properties was filed before the Special Court under the Prevention of Corruption Act in Raipur. Following a hearing on April 17, the court ordered attachment of all such properties,” the statement said.
Accordingly, the Anti-Corruption Bureau/Economic Offences Wing attached the properties. The attached properties cannot be sold or transferred, it said.
The Enforcement Directorate (ED) had earlier provisionally attached five immovable properties linked to Vishnoi in connection with the coal levy scam, it added.
Proceedings are also underway in cases involving other public servants, including action taken in September last year against properties linked to Saumya Chaurasia, who was deputy secretary in the chief minister’s office during the Congress government, the statement said.
Vishnoi, a 2009-batch Indian Administrative Service officer, was first arrested in 2022 by the ED in connection with the alleged coal levy scam. He was among several accused who were granted bail last year by the Supreme Court.
The case refers to an alleged Rs 540 crore racket between July 2020 and June 2022, when an illegal levy of Rs 25 per tonne was being extorted by a cartel involving senior bureaucrats, businessmen, politicians and middlemen for every tonne of coal transported in the state.
