Eros International Media Ltd has bought fifty per cent stake in Bhagnani's Puja Entertainment and Films Ltd, and as per the merger, his popular films from the "No 1" series will be among the firsts to be remade through this venture.
"Kishore Lulla and I had wanted to do this for a very long time. Puja Films has been in the movie making business for the past 20 years and it is crucial to partner with a behemoth like Eros to continue making meaningful and profitable cinema," Bhagnani said in a statement.
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